BRIEF-HSBC says Brazil regulator approves sale of unit

jueves 9 de junio de 2016 02:49 GYT

June 9 (Reuters) - Hsbc Holdings Plc

* Sale of Brazil business receives reg approval

* Transaction was unanimously approved by Brazilian Administrative Council for Economic Defence (Brazil's competition agency) and official publication of this decision is expected to be on or before 14 June 2016

* Bradesco and HSBC plan to complete transaction early in July

* Transaction is expected to decrease group risk weighted assets by around $37bn and increase group's common equity tier 1 ratio by c.65bps

* HSBC plans to maintain a presence in brazil to serve large corporate clients with respect to their international needs Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)