HSBC Completes Transfer of Russia Unit Ownership to Expobank

After almost two years of negotiations, HSBC Holdings plc (HSBC) has finally completed the sale of its Russia Unit to Expobank. The lender confirmed that it transferred the ownership of its Russia unit, HSBC Bank (RR) LLC, to Expobank for an undisclosed fee. HSBC stated, "Economic ownership of HSBC Russia has been transferred to Expobank. The transaction will formally complete once the legal title transfer has been registered in the State Corporate Register." HSBC first announced its intention to sell 100% ...