RBC completes acquisition of HSBC Bank Canada
Counsel to the board of directors of HSBC Bank Canada in connection with its $13.5 billion sale to Royal Bank of Canada
Lead by
Jay M. Hoffman
Team Members
On March 28, 2024, Royal Bank of Canada (TSX: RY) (NYSE: RY) (“RBC”) today announced it has completed the acquisition of HSBC Bank Canada (“HSBC Canada”).
The acquisition deal was made public in November 2022, involving RBC’s purchase of HSBC Canada. The transaction is valued at $13.5 billion CAD.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries.
HSBC is one of the world’s largest banking and financial services organizations. Their global businesses serve around 42 million customers worldwide through a network that covers 62 countries and territories.
Miller Thomson advised the board of directors of HSBC Bank Canada with a team led by Jay Hoffman (Corporate/M&A) and comprised of Tom Koutoulakis (Capital Markets & Securities), Nora Osbaldeston (Financial Services), Ian Polisuk, Andrew Gunpat (Corporate/M&A).