2023-06-14 15:06:51
A new agreement is under discussion for the sale of HSBC’s retail banking business to My Money Group. A memorandum of understanding has been signed.
A new agreement will be announced for the sale of the retail banking activities in France of the British banking giant HSBC to My Money Group, controlled by the American fund Cerberus.
“The parties signed today (Wednesday) a new memorandum of understanding”, according to a press release from the bank, which specifies that the “indirect shareholder” of My Money Group will bring “225 million euros of capital” in order to “meet” regulatory requirements.
In April, the discussions seemed “uncertain”. This transaction, the culmination of a long process, was accompanied by a salty addition for HSBC, with a depreciation of 2.4 billion dollars passed in the third quarter of 2022.
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