HSBC: EU clears joint venture with Temasek
(CercleFinance.com) - The European Commission today announced that it has approved the creation of a new joint venture between HSBC Bank Limited (HSBC Singapore) and Temasek Holdings, both of which are from Singapore.
The joint venture will operate in Asia and provide debt finance for sustainable infrastructure projects in the renewable energy, energy storage, sustainable transport, wastewater and solid waste management sectors.
HSBC Singapore is part of HSBC, a banking and financial services company, while Temasek is an investment company.
The Commission concluded that the proposed deal would not give rise to any competition concerns given the joint venture's negligible activities and expected assets in the European Economic Area.
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The joint venture will operate in Asia and provide debt finance for sustainable infrastructure projects in the renewable energy, energy storage, sustainable transport, wastewater and solid waste management sectors.
HSBC Singapore is part of HSBC, a banking and financial services company, while Temasek is an investment company.
The Commission concluded that the proposed deal would not give rise to any competition concerns given the joint venture's negligible activities and expected assets in the European Economic Area.
Copyright (c) 2022 CercleFinance.com. All rights reserved.