Announced
Financials
Sources
Tags
Russian Federation
Domestic
Pending
Banks
banking services
Acquisition
Private
Single Bidder
asset management
Majority
Friendly
Synopsis
Expobank, a provider of commercial banking services, agreed to acquire the Russian business of HSBC, a banking and financial services organisation. Financial terms were not disclosed. Completion of the deal would represent HSBC's formal exit from Russia but the bank said the transaction was still subject to regulatory approvals in Russia. HSBC's business in Russia consisted of a corporate banking business which offered a range of lending and investment banking services to domestic and multinational customers. It employed around 200 people.
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