HSBC 2001 Annual Report Download - page 203

201
Countr
y
of incorporation
or registration Principal activity Issued equity capita
l
North America
HSBC Bank Canada (99.99% owned).................. Canad
a
Banking C$935m
HSBC Bank USA ................................................. United States Banking US$205m
HSBC Securities (USA) Inc.................................. United States Investment banking –3
HSBC USA Inc..................................................... United States Holding company –3
Latin America
HSBC Bank Argentina S.A (99.92% owned) ....... Argentin
a
Banking ARS237m
HSBC Bank Brasil S.A. – Banco Múltiplo........... Brazil Banking BRL912m
HSBC Seguros (Brasil) S.A. (99.75% owned) ..... Brazil Insurance BRL244m
HSBC La Buenos Aires Seguros S.A. (formerly
La Buenos Aires Compañia Argentina de
Seguros S.A.) (99.32% owned)......................... Argentin
a
Insurance ARS43m
Máxima S.A. AFJP (55.74% owned).................... Argentin
a
Pension fund
management
ARS87m4
3issued equity capital is less than US$1 million
4HSBC has a 60% economic and voting interest in Máxima S.A. AFJP .
Details of all HSBC companies will be annexed to the next Annual Return of HSBC Holdings filed with the UK
Registrar of Companies.
Except where indicated otherwise, the issued equity capital of the above undertakings is wholly-owned by
HSBC and is held by subsidiaries of HSBC Holdings. All the above make their financial statements up to
31 December except for HSBC Bank Argentina S.A., HSBC La Buenos Aires Seguros S.A. and Maxima S.A.
AFJP, whose financial statements are made up to 30 June annually.
The principal countries of operation are the same as the countries of incorporation except for HSBC Bank
Middle East which operates mainly in the Middle East, and HSBC Life (International) Limited which operates
mainly in Hong Kong. All the above subsidiaries are included in the consolidation.
(c) Acquisitions
HSBC made the following acquisitions of subsidiary undertakings or net assets and operations in 2001, which
were accounted for on an acquisition basis:
i. On 3 March 2001, CCF, a 99.99 per cent owned subsidiary of HSBC, acquired 89.6 per cent of Banque
Hervet and a further 8.3 per cent in July for a total cash consideration of US$481 million. Goodwill of
US$269 million arose on this acquisition.
ii. On 22 March 2001, HSBC Finance (Brunei) Berhad, a wholly owned subsidiary of HSBC, acquired 100 per
cent of IRB Finance Berhad for a cash consideration of US$32 million. Goodwill of US$9 million arose on
this acquisition.
iii. On 30 March 2001, HSBC Bank plc, a wholly owned subsidiary of HSBC, acquired 100 per cent of the
issued share capital of Intermediarios Financieros, Agencia de Valores y Bolsa, S.A. for a cash
consideration of US$7 million. Goodwill of US$4 million arose on this acquisition.
iv. On 2 April 2001, HSBC Bank plc acquired the whole of Barclays branch network in Greece including the
Greek fund management company Barclays AEDAK for a cash consideration of US$11 million. Goodwill
of US$11 million arose on this acquisition.
v. On 1 June 2001, CCF acquired 100 per cent of the issued share capital of Reyers for a cash consideration of
US$11 million. Goodwill of US$7 million arose on this acquisition.