GNB Sudameris Snags Latest HSBC Divestment

GNB Sudameris Snags Latest HSBC Divestment

Colombia Peru M&A Uruguay Paraguay

Colombia’s Banco GNB Sudameris has agreed to buy HSBC’s operations in Colombia, Uruguay, Peru and Paraguay, for $400m, HSBC says. HSBC had previously announced it was in talks to sell the assets. Though the Colombian portion is small – 15th in assets with just over $1.5bn, representing 1.7% market share – it represents the latest asset to change hands in a rapidly shifting landscape where foreign players have paid high multiples to enter. The businesses to be sold consist of 62 branches across t

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