Bradesco Agrees to Buy HSBC’s Brazil Unit for $5.2 BillionFrancisco Marcelino, Cristiane Lucchesi and Richard Partington
Banco Bradesco SA agreed to buy HSBC Holdings Plc’s money-losing Brazil unit for $5.2 billion in cash, its biggest acquisition ever and more than some analysts had estimated. Bradesco’s shares slumped.
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