Bruchou & Funes de Rioja 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 interdisciplinary team from Bruchou & Funes de Rioja advising HSBC was led by partners Hugo N. Bruzone from Banking, Estanislao H. Olmos, and Nicolás Dulce from the M&A team, with support from senior associate Franca Stafforini and associates Tomas Herrero Anzorena, Sol Scelzi, and Nicolas Yaryura Tobías. The team also included Alejandro Perelsztein from Banking, associates Lucila Dorado and Quimey Waisten, partners Florencia Funes de Rioja and Lucila Tagliaferro from the labor practice, Daniela Rey, partner in charge of tax matters, Lucila Winschel, partner from the corporate department along with senior associate Manuel Olcese, partner Fernando Basch from Compliance, Gabriel Lozano, partner in charge of the Competition Defense practice, and senior associate Franco Raffinetti from the IP department.
Additionally, HSBC was advised by Linklaters, led by partner Derek Tong and associates Cameron Western, Tom Davies and Tanaya Rajwade.
Beccar Varela advised Grupo Financiero Galicia with an M&A team led by partners Roberto Crouzel and María Shakespear, and senior associates María Benson and Luciana Liefeldt. The buyer was also advised by Latham & Watkins, led by partner Beatrice Lo and associate Leah Adeniran, with in-house counsel from Esteban Tresserras