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HSBC Holdings PLC's HSBC Latin America Holdings (UK) Limited Enters Into Agreement To Sell HSBC Bank (Panama) S.A. To Bancolombia S.A


Tuesday, 19 Feb 2013 07:00am EST 

HSBC Holdings PLC announced that HSBC Latin America Holdings (UK) Limited, a wholly owned subsidiary of HSBC Holdings plc (HSBC), has entered into an agreement to sell HSBC Bank (Panama) S.A. to Bancolombia S.A. (Bancolombia) for a total consideration of USD2.1 billion in cash, based upon estimated net asset value at completion of USD700 million. The transaction is expected to complete by the third quarter of 2013. 

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