HSBC sells Panama operations to Bancolombia in $2.1bn deal
UK financial giant HSBC Holdings plc (LON:HSBA) said Tuesday it had agreed to sell HSBC Bank (Panama) SA to Colombian lender Bancolombia SA (NYSE:CIB) for USD2.1bn (EUR1.6bn) in cash. The offload, which will be carried out through HSBC Holdings' fully-controlled unit HSBC Latin America Holdings (UK) Ltd, has yet to receive regulatory green light and is seen to close in the…
Read the full story
