Linklaters advises HSBC on the sale of its business in Argentina to Grupo Financiero Galicia

Linklaters has advised HSBC on the sale of its Argentinian banking, asset management and insurance business to Grupo Financiero Galicia, the largest private financial group in Argentina.

The transaction is subject to conditions, including regulatory approvals, and is expected to be completed within the next 12 months.

The Linklaters team advising HSBC was led by partner Derek Tong, alongside associates Cameron Western, Tom Davies and Tanaya Rajwade (all Corporate, London). Partner Lynne Walkington, managing associate Catherine Sam and associate Rosie Vince advised on tax matters, partner Julian Cunningham-Day and managing associate Henry Elkington advised on TMT matters, partner Bradley Richardson, counsel Simon Kerr-Davis and managing associate Kaleigh Jones advised on employment and incentives matters and partner Paul Joseph and associate Hollie Cooke advised on intellectual property matters.

Bruchou & Funes de Rioja acted as Argentine counsel to HSBC.

Linklaters also advised HSBC on the sale of its banking business in Canada (HSBC Canada) to Royal Bank of Canada (RBC) which closed in March 2024.

The Linklaters M&A practice covers the full spectrum of corporate work advising buyers, sellers and financial advisers on public takeovers, private M&A, equity capital markets, private equity, joint ventures and commercial partnerships, disposals, corporate restructurings and board advisory issues. The practice’s end-to-end approach brings together leading transactional expertise with the full range of specialist areas including antitrust, employment and incentives, environmental, intellectual property, pensions, tax and technology.