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HSBC Holdings PLC (HSBC)

  • Feb. 19, 2013, 11:48 AM
    HSBC's (HBC) Latin American unit agrees to sell HSBC Panama to Bancolombia for $2.1B in cash. The move furthers HSBC's goal of concentrating its Latin American business on the core markets of Brazil, Mexico, and Argentina. (PR)
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  • Feb. 1, 2013, 6:09 AM
    The China Insurance Regulatory Commission has approved HSBC's (HBC) sale of its remaining 15.7% stake in Ping An Insurance to Thailand's Charoen Pokphand for $7.5B. There had been reports that the agency would block the deal due to concerns about how Charoen Pokphand would fund it. HSBC will now be able to book a $2.6B post-tax gain. (previous)
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  • Jan. 8, 2013, 5:38 AM
    HSBC's (HBC -0.8%) sale of its 15.6% stake in China's Ping An Insurance to Thailand's Charoen Pokphand for $9.4B is reportedly in doubt after China Development Bank changed its mind about providing a large part of the funding for the deal. HSBC had expected to book a profit of $3B on the transaction.
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  • Dec. 5, 2012, 2:42 AM
    HSBC (HBC) agrees to sell its 15.6% stake in China's Ping An Insurance for $9.38B to Charoen Pokphand Group, which is controlled by Thailand's richest man, Dhanin Chearavanont. Having bought the holding for $1.7B in 2002-2005, HSBC will earn a profit of $7.68B. With the deal part of HSBC's strategy of selling non-core operations, analysts reckon its 19.9%, HK$79B ($10.19B) stake in China's Bank of Communications could be next. (PR)
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  • Jul. 31, 2012, 2:35 AM
    Korea Development Bank says it has ended talks over the possible purchase of HSBC's (HBC) Korean retail banking business. Negotiations were discontinued because KDB and HSBC failed to reach an agreement on employment conditions.
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  • Jul. 18, 2012, 4:55 AM
    HSBC (HBC) is putting its Vietnam insurance business up for sale, sources say. The deal could bring in ~$400M for HSBC as it works to exit non-core markets.
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  • May 7, 2012, 12:57 PM
    PHH Mortgage (PHH) inks a strategic relationship to provide private-label, end-to-end mortgage origination and loan servicing services to HSBC's (HBC) U.S. operation. The deal will bring fee revenue to PHH's income statement, but not mortgages onto its balance sheet. (PR)
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  • Apr. 2, 2012, 5:24 AM
    State-owned Korea Development Bank [KDB] is close to acquiring HSBC's (HBC) retail banking business in South Korea, says KDB chairman Kang Man-soo. KDB had denied earlier rumors about a deal, but now says an agreement is imminent.
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  • Mar. 7, 2012, 2:45 AM
    HSBC (HBC) agrees to sell its general insurance business to French insurer AXA and Australia's QBE Insurance Group for $914M in cash. The sale is part of HSBC's push to divest non-core assets, and helps AXA boost its presence in emerging markets.
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  • Mar. 1, 2012, 2:59 AM
    HSBC (HBC) is said to be nearing a deal to sell its general insurance business for around $1B. French insurer AXA and Australia's QBE Insurance Group would reportedly split the business.
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  • Jan. 25, 2012, 2:30 AM
    HSBC (HBC) is reportedly looking for buyers for its Japanese consumer banking unit, but may shut down the auction if offers aren't sufficiently attractive. (see also: HSBC's global retrenchment)
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  • Jan. 24, 2012, 11:23 AM
    HSBC (HBC -0.6%) continues its global retrenchment as it agrees to sell its banking operations in Costa Rica, El Salvador and Honduras to Colombia's Banco Davivienda for $801M. The units HSBC is selling have 136 branches, assets of about $4.3B and loans of $2.5B. (PR)
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  • Dec. 27, 2011, 5:31 AM
    State-owned Korea Development Bank [KDB] denies inking a preliminary deal to buy HSBC's (HBC) South Korean retail branches, rebutting an earlier report that a memorandum of understanding had been signed but confirming that talks are underway.
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  • Dec. 21, 2011, 2:11 AM
    HSBC (HBC) is pulling out of private banking in Japan as it streamlines operations, and is selling the unit to Credit Suisse (CS) for an undisclosed sum. The value of the gross assets included in the sale was ~$2.7B as of the end of October.
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  • Aug. 22, 2011, 3:37 PM
    HSBC (HBC) is in talks over the sale of its Canadian wealth management unit. The group manages about $16.3B and its sale is expected to bring in $200-$300M, says a source. "It's a tough nut to crack," says an analyst of the Canadian financial services market, where foreign firms are bailing with regularity now.
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  • Aug. 10, 2011, 4:44 PM
    Bucking today's bloodbath in financial stocks, Capital One (COF +0.7%) shares inch ahead on its $2.6B deal to acquire HSBC's (HBC) $30B U.S. credit card portfolio. The cheap core deposits from the ING Direct (ING) acquisition are seen as more than adequate to fund the card portfolio, increasing COF's interest rate spread and earnings power.
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Company Description
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.