Grupo Financiero Galicia (GGAL) has released an update.
Grupo Financiero Galicia S.A. and its subsidiary Banco Galicia have reached an agreement to acquire significant stakes in multiple HSBC Argentina entities, with a combined purchase price of nearly USD 275 million in cash and additional payment in class B shares. This strategic acquisition will result in the ownership of nearly all equity capital and voting rights of HSBC Bank Argentina S.A., alongside other HSBC assets. The completion of the transaction is contingent upon approval from the Argentine Central Bank.
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