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HSBC to buy RBS' Indian business

HSBC has agreed to acquire RBS’ retail and commercial banking businesses in India involving portfolios with a gross asset value of US$1.8bn as at 31 March 2010. The acquisition, which is subject to regulatory approvals, is expected to complete in the first half of 2011. The total consideration will comprise a premium of up to US$95m over the tangible net…

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