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Bradesco to pay $5.2 bln for HSBC's Brazilian unit - magazine says

Reuters - UK Focus

SAO PAULO, Aug 2 (Reuters) - Banco Bradesco SA, Brazil's No. 2 private-sector bank, has agreed to pay 17.6 billion reais ($5.2 billion) for HSBC Holdings Plc (HKSE: 0005.HK - news) 's Brazilian unit, magazine Veja's Radar blog reported late on Sunday.

The transaction was informed to central bank officials late on Sunday, and Bradesco plans to make public the acquisition of HSBC Bank Brasil SA Banco Múltiplo, as the unit is formally known, early on Monday, the blog said, without saying how it obtained the information.

A press representative at HSBC in São Paulo declined to comment. Efforts to contact Bradesco's press officials were unsuccessful.

Reuters reported last month, citing a source with direct knowledge of the transaction, that Bradesco had entered exclusive talks to buy HSBC Brasil. The same source said at the time that HSBC was expected to have the sale finalized by early August. (Reporting by Guillermo Parra-Bernal and Aluísio Alves; Editing by Gopakumar Warrier)