Grupo Financiero HSBC, S.A. de C.V. (‘HSBC Mexico’), an indirect subsidiary of HSBC Holdings plc (‘HSBC’), has entered into an agreement to sell HSBC Fianzas, S.A., its subsidiary which undertakes bonding and surety business, to Afianzadora Aserta, S.A. de C.V.
HSBC Fianzas S.A. had gross assets of approximately MXN544m (US$41m) at 30 June 2013.
The transaction, which is subject to regulatory approvals, is expected to complete in the first quarter of 2014. The sale represents further progress in the execution of the HSBC Group’s strategy.
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Note to editors:
HSBC Fianzas, S.A. is a direct subsidiary of Grupo Financiero HSBC, S.A. de C.V., one of the leading financial groups in Mexico with 1,021 branches, 6,350 ATMs and approximately 17,300 employees. For more information, visit www.hsbc.com.mx
Grupo Financiero HSBC is a 99.99% directly owned subsidiary of HSBC Latin America Holdings (UK) Limited, which is a wholly owned subsidiary of HSBC Holdings plc, and a member of the HSBC Group. With around 6,600 offices in 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and North Africa and with assets of US$2,645bn at 30 June 2013, the HSBC Group is one of the world’s largest banking and financial services organisations.
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