Brazil's BTG Pactual Starts Banking in Uruguay After HSBC Buyout

Key Facts

—Doors open. BTG Pactual began operating in Uruguay on Monday, July 13, after completing its purchase of HSBC’s local bank.

—The price. The full acquisition, covering all share capital plus additional capital instruments, came to about $211 million (roughly R$1.08 billion).

—Final clearance. Uruguay’s central bank gave the last regulatory approval in June, completing a process that ran for about a year.

—The map. Uruguay was the last major South American financial centre BTG had not entered, alongside Brazil, Argentina, Chile, Colombia, Peru and Mexico.