Linklaters has advised HSBC Latin America Holdings (UK) Limited on the sale of its entire business in Brazil to Banco Bradesco S.A.

The deal, which was run as an auction process, is subject to regulatory approvals from BACEN (the Brazilian central bank), CADE (the Brazilian competition authority) and SUSEP (the Brazilian insurance regulator) along with regulatory approval for the Cayman branch.

The Linklaters team was led by corporate partners Aedamar Comiskey and Nicola Mayo in London and Alberto Luzárraga in Sao Paulo.