India, July 31 -- HSBC Holdings PLC (HSBC,HSBA.L,HBC1.DE,HSHD.SI,0005.HK) said on Friday that its indirect, wholly-owned subsidiary, HSBC Bank Australia Limited, has inked a deal pursuant to which Virgo BidCo Pty Ltd will acquire a portfolio of Australian home loans and personal loans of HSBC Australia.
Virgo BidCo is wholly owned by the funds managed by affiliates of Blackstone Inc.(BX).
The total consideration for the sale is equal to a base amount of A$36 billion and an amount to reflect originations in the portfolio from January 31 up to and including the date falling 14 days after the date of the asset sale and purchase deal. The consideration will be paid in cash.
The outstanding balance of the portfolio was A$36 billion as of Dece...