Banque Populaire In Exclusive Talks With HSBC Over French<@SM>Local Branches

PARIS (Dow Jones)--French mutual bank Banque Populaire Friday said it enteredexclusive talks with U.K.-based bank HSBC Holdings PLC (HBC) to acquire seven of HSBC's French branches, in a transaction valued at EUR2.1 billion.

Processing Content

In a statement, Banque Populaire said it is in talks with HSBC to buy HSBCFrance's Banque Chaix, Banque Dupuy de Parseval, Banque Marze, Banque Pelletier,Banque de Savoie, Credit Commercial du Su-Ouest and Societe Marseillaise deCredit.

The transaction is expected to be signed in the next six months, BanquePopulaire said.

Company Web site: http://www.banquepopulaire.fr

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com

(END) Dow Jones Newswires 02-29-08 0547ET Copyright (c) 2008 Dow Jones & Company, Inc.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER