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Report: Cade will not require Bradesco to sell assets for HSBC Brasil deal approval

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Report: Cade will not require Bradesco to sell assets for HSBC Brasil deal approval

Brazilian antitrust regulator Cade will not require to sell any ofits assets in order to win the agency's approval for its acquisition of HSBC Bank Brasil SA - Banco Múltiplo, Bloomberg News reportedMarch 28, citing two sources directly involved in the decision.

Earlier in 2016, Cade launched a detailed of the transaction due to its nature. has already the deal.

According to Bloomberg's sources, Cade may ask Bradesco to ensurea high standard of services and maintain HSBC Bank Brasil's tariff policies afterthe deal's completion. The regulator is reportedly expected to issue its verdicton the purchase in May.

The $5.2 billion deal was announced in August 2015.