The HSBC Group established a presence in sub-Saharan Africa in 1981 and entered the South African market in 1995. It expanded its regional operations because of increased demand for trading, opening a corporate and institutional bank in Johannesburg in 2003. It was initially a branch of HSBC Bank plc (incorporated in the United Kingdom), and in 2007 the Johannesburg office became a branch of The Hongkong and Shanghai Banking Corporation Limited (incorporated in Hong Kong).
Today, HSBC Africa’s principal activity is global banking and markets. The business is managed out of the regional hub in Johannesburg. HSBC Africa’s Commercial Banking business offers the same services to large local and international corporates.
For details about HSBC’s global operations, Group board members and financial results, go to our corporate website
HSBC acted as Sole Financial Adviser to Sibanye Gold Limited ("Sibanye") on its acquisition of the Rustenburg operations from Anglo American Platinum (“Amplats“), majority controlled by Anglo American plc, for an upfront consideration of ZAR1.5 billion and a minimum deferred earn-out payment of ZAR3 billion.
This transaction demonstrates HSBC’s role as strategic adviser to Sibanye across M&A and balance sheet solutions, advising the company over a period of time and positions us for future strategic roles. The transaction is also an important credential of HSBC's capabilities to advise on complex M&A situations in the South African commodities sector.
HSBC’s role was undertaken as a joint effort by the London-based Resources and Energy Group (Metals and Mining) and Mergers and Acquisitions (EMEA) teams and the South African Global Banking Advisory and Coverage teams.