Canadian regulators to review HSBC Canada sale to RBC

Nov 29 (Reuters) – Canadian regulators will review the C$13.5 billion ($10 billion) cash sale of HSBC’s (HSBA.L) Canadian business to Royal Bank of Canada ( RY.TO) on Tuesday.

“The Office of the Superintendent of Financial Institutions (OSFI) will manage the application process and provide advice to the Treasurer. The Competition Bureau will also review the transaction under the Competition Act,” the department said in a statement.

Kanishka Singh reports from Washington

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