HSBC in talks to sell French banks
HSBC France SA, part of HSBC Holdings Plc, has said that it has received a firm cash offer of 2.1 million euros for its 400 banks in France. The offer was made by Banque Federale des Banques Populaires.
France sends defence minister to ChadHSBC France has said that it has entered into exclusive discussions with Banque Federale des Banques Populaires.
Stephen Green, HSBC group chairman said, "Banque Federale des Banques Populaires has outlined a strategy for the banks which would make it a good owner for both customers and staff with a strong respect for the traditions of the banks.
"This offer is an opportunity for HSBC to redeploy capital to other investments as we pursue our strategy and rebalance our activities towards emerging markets and faster growing business segments."
Philippe Dupont, chairman and chief executive officer of Groupe Banque Populaire, said, "This acquisition allows Groupe Banque Populaire to improve its growth prospects in retail banking and is fully in line with the Group's strategic objectives. We intend to retain the brands of the Regional Banks and their individual
identities."
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