Hang Seng Appoints Advisor to Review HSBC Deal
Hong Kong-based Hang Seng Bank has named an independent advisor to review the takeover deal by HSBC.
Hang Seng has appointed Somerley Capital as an independent financial advisor to assess the takeover deal by HSBC, according to an exchange filing.
Earlier this month, the British lender, which already holds a 63 percent stake in Hang Seng, announced a proposal to acquire the remaining shares it does not own in the local lender and take it private for HK$106 billion ($13.6 billion).
While HSBC CEO Georges Elhedery said the move was strategically aligned to drive stronger growth, many onlookers pointed out that the bank would be shouldering risks from the downturn in Hong Kong’s commercial real estate sector with Hang Seng reporting HK$25 billion of impaired loans from the sector in the first half of 2025.
