Banco Bradesco SA, Brazil's No. 2 private-sector bank, has agreed to pay 17.6 billion reais (US$5.2 billion) for HSBC Holdings Plc's Brazilian unit, magazine Veja's Radar blog reported late on Sunday.
The transaction was informed to central bank officials late on Sunday, and Bradesco plans to make public the acquisition of HSBC Bank Brasil SA Banco Múltiplo, as the unit is formally known, early on Monday, the blog said, without saying how it obtained the information.
A press representative at HSBC in São Paulo declined to comment. Efforts to contact Bradesco's press officials were unsuccessful.
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The transaction was informed to central bank officials late on Sunday, and Bradesco plans to make public the acquisition of HSBC Bank Brasil SA Banco Múltiplo, as the unit is formally known, early on Monday, the blog said, without saying how it obtained the information.
A press representative at HSBC in São Paulo declined to comment. Efforts to contact Bradesco's press officials were unsuccessful.
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