Royal Bank of Canada's swift move to buy HSBC's Canada unit for C$13.5 billion ($10 billion) strengthens its pole position at home, but faces a long road to clear regulatory challenges.
Canada unit for C$13.5 billion strengthens its pole position at home, but faces a long road to clear regulatory challenges.is the biggest acquisition for RBC CEO Dave McKay and marks a departure from peers that have pursued overseas acquisitions to diversify their earnings
The finance minister has the authority to impose any terms and conditions, the finance department said in a statement. "This deal might not be in the league of what we saw in the 90s, but still it is pretty big with systemic impact," Goldman added. Carl De Souza, head of Canadian banking at DBRS Morningstar, said RBC might have to divest some businesses to satisfy regulators.Despite the expected regulatory risks, RBC was keen to move quickly. From its first communication with HSBC, RBC had said it could close a deal quickly if selected, a person close to the transaction said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
HSBC to sell Canada business to RBC for $10 blnHSBC has agreed to sell its business in Canada to Royal Bank of Canada for $13.5 billion Canadian dollars ($10.04 billion) in cash.
Consulte Mais informação »
HSBC Set to Sell Canadian Arm to Royal Bank of Canada for $10 BillionRBC said the deal, expected to close by late 2023, will enhance its competitiveness on the global stage.
Consulte Mais informação »
HSBC eyes bumper dividend from $10 bln sale of Canada business to RBCHSBC has agreed to sell its business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout for shareholders later down the line.
Consulte Mais informação »
HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBCHSBC agreed to sell its business in Canada to the Royal Bank of Canada for around $10 billion. The purchase will enable RBC to take more market share in its home market, adding 130 branches and more than 780,000 retail and commercial customers
Consulte Mais informação »
Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionThe Royal Bank of Canada said on Tuesday that it will acquire HSBC Canada for an all-cash transaction of $13.5 billion. Find out more. via financialpost
Consulte Mais informação »