HSBC plans to purchase Republic New York

Article Abstract:

HSBC Holdings PLC is planning acquire Republic New York Corp. for approximately $10 billion. The deal will also include the acquisition of Republic's private banking unit in Europe. Republic is the 20th-largest bank in the US. HSBC's presence in the US would be greatly enhanced by acquiring Republic's 62 branches in South Florida and New York. HSBC would add the new branches to its US unit.

Comment:

HSBC planning to acquire Republic New York for approximately $10 billion

HSBC Holdings PLC, Republic New York Corp.

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Bank of New York agrees to buy RBS Trust Bank

Article Abstract:

Bank of New York will buy RBS Trust Bank Ltd from Royal Bank of Scotland PLC. RBS Trust Bank is currently valued at about $340 million, and both companies expect the the selling price to be above that. Payment will be made in installments based on RBS's performance, and will be complete in Dec 2001. RBS Trust Bank has about $640 billion in assets under administration.

Comment:

Bank of New York will buy RBS Trust Bank Ltd. from Royal Bank of Scotland PLC

Trust, Fiduciary, and Custody Activities, Bank Trust Services, Trust companies, The Bank of New York (New York, New York), RBS Trust Bank Ltd.

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Credit Suisse to shed U.K. insurer

Article Abstract:

Credit Suisse Group AG has reached a deal to sell Churchill Insurance PLC to the Royal Bank of Scotland Group PLC. The deal is valued at 1.1 billion pounds (1.6 billion euros).

Company acquisition/merger, Insurance industry, Credit Suisse Group, Churchill Insurance Consultants

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