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HSBC Sole Financial Advisor to ConocoPhillips on sale of its Vietnam Business Unit
16 February 2012
New York - HSBC Securities (USA) Inc. today announced it acted as the Sole Financial Advisor to ConocoPhillips on the sale of its Vietnam business unit to Perenco for a total of $1.29 billion plus working capital adjustments.
ConocoPhillips has entered into definitive agreements with a subsidiary of Perenco to sell its three wholly-owned subsidiaries that separately hold its 23.25 percent participating interest in Block 15-1, 36 percent participating interest in Block 15-2, and 16.3 percent participating interest in Nam Con Son Pipeline. The transaction is anticipated to close in the first half of 2012.
Notes to editors:
HSBC Bank USA, National Association, with total assets of $209.3 billion as of 30 September 2011 (US GAAP), serves around 4 million customers through its personal financial services, commercial banking, private banking, asset management, and global banking and markets segments. It operates more than 470 bank branches throughout the United States. There are over 370 in New York state as well as branches in Connecticut, Washington, D.C., Florida, New Jersey, Pennsylvania, Maryland, Virginia, California, Delaware, Illinois, Oregon and Washington State. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc., one of the nation's largest bank holding companies by assets. HSBC Bank USA, N.A. is a member of the FDIC.
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Global Banking and Markets is an emerging markets-led and financing-focused business that provides tailored financial solutions to major government, corporate and institutional clients worldwide. HSBC manages its Global Banking and Markets operations as a global business and maintains offices in more than 60 countries and territories. Global Banking and Markets offers clients geographic reach and deep local knowledge. In the United States, it offers a full range of tailored financial products and services through the Bank and HSBC Securities (USA) Inc., a member of NYSE/FINRA/SIPC. Securities and certain annuity products are not a deposit or obligation of the Bank, are not guaranteed by the Bank or any of its affiliates, and are not insured by the FDIC or any other U.S. federal government agency.
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- Juanita Gutierrez
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