HSBC Bank Malta announced on Tuesday that no single bidder has been prioritised in the ongoing takeover discussions, emphasising that the process remains in its early stages.
In a statement, the bank referenced a decision from its extraordinary general meeting in February, where shareholders authorized the disclosure of confidential information to potential offerors to enable them to submit, confirm, withdraw, or revise any proposals for a substantial shareholding.
HSBC Bank Malta confirmed it has signed a confidentiality agreement with its largest shareholder, HSBC Continental Europe, and is in the process of finalising similar agreements with multiple prospective bidders. These parties will be granted access to confidential information as part of the process.
“The Bank has been informed by HSBC Holdings plc that there is no preferred offeror and that the process remains at an early stage,” the statement read.
The bank also highlighted that any potential transaction would require regulatory approval from both the Malta Financial Services Authority (MFSA) and the European Central Bank, a process expected to take several months.
“HSBC Holdings plc has reaffirmed its commitment to supporting the Bank, its customers, and its employees throughout this process,” it added.
