On December 5, 2024, Grupo Financiero Galicia S.A. (“Grupo Galicia”) issued 113,821,610 ordinary, book-entry, Class “B” shares, with a nominal value of AR$1 (one Peso) and one vote per share (the “New Shares”), represented by American Depositary Receipts (“ADRs”). The issuance was executed to fulfill the consideration established in the purchase agreement dated April 9, 2024, between Grupo Galicia and Banco de Galicia y Buenos Aires S.A.U. (“Banco Galicia”), on one side, and HSBC Latin America B.V. (“HLA”), on the other (the “Agreement”). Through the Agreement, Grupo Galicia and Banco Galicia simultaneously acquired, directly and indirectly, 99.99% of the share capital and voting rights of HSBC Bank Argentina S.A., and 100% of HSBC Argentina Holdings S.A., HSBC Participaciones (Argentina) S.A., HSBC Global Asset Management S.A., HSBC Seguros de Vida (Argentina) S.A., and HSBC Seguros de Retiro (Argentina) S.A. (the “Transaction”).
The Transaction was authorized by the Central Bank of the Argentine Republic on September 12, 2024. The public offering of the New Shares was authorized by the National Securities Commission on October 17, 2024, and their listing was approved by Bolsas y Mercados Argentinos S.A. on November 5, 2024.
Advisors to Grupo Galicia:
Beccar Varela (Buenos Aires): Led by Partner Luciana Denegri, with the participation of María Victoria Pavani, Julián Alejandro Ojeda, Mora Mangiaterra Pizarro, and María Carolina Pilchik. Additionally, Partners Roberto H. Crouzel, María Shakespear and María Benson were involved.
In-House Counsel: Esteban Tresserras and Martín Berrotarán.
Gibson Dunn: Team led by Tomer Pinkusiewicz, with the participation of Marie Kwon and Amaranta Chuquihuara.