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The Maltese Herald

Several buyers interested in acquiring HSBC Malta: APS Bank submits bid

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by

Mark Camilleri
in ,

HSBC Bank Malta is set to to be sold off as it convenes an Extraordinary General Meeting to discuss various offers it has been submitted to it. APS Bank has also issued a statement declaring that it submitted a bid to buy 70% of the bank’s shares from HSBC Holdings. HSBC Continental Europe has instructed HSBC in Malta to conduct due diligence on the offers proposed to it.  Alvarez & Marsal and Ganado Advocates are the lead financial advisors of APS Bank working on its offer.

HSBC Bank Malta is twice the size of APS Bank, with market capitalisations of approximately €522 million and €216 million, respectively. APS Bank has not yet declared how it will be raising capital to fund the purchase.

 

 

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One response to “Several buyers interested in acquiring HSBC Malta: APS Bank submits bid”

  1. APs Bank's CEO Marcel Cassar goes on the offensive after withdrawing bid for HSBC Malta - The Maltese Herald avatar
    APs Bank's CEO Marcel Cassar goes on the offensive after withdrawing bid for HSBC Malta - The Maltese Herald

    […] In several statements CEO Marcel Cassar made to the press during a briefing announcing APS Bank’s first quarter results, the CEO said that APS Bank received information from third-party sources that lead to its decision to withdraw its bid. In separate statements, the CEO said that APS has not ruled out expanding by acquiring another bank or re-submitting a bid for HSBC Malta in the future. Critics have also shed doubt on the capability of APS Bank acquiring HSBC Malta given that HSBC Malta is twice the size of APS Bank. […]

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