M&A: GRUPO FINANCIERO GALICIA SA

Form Type: F-3ASR

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000111470025000002

Comments: On January 2, 2025, Grupo Financiero Galicia S.A. filed a registration statement with the SEC for the resale of up to 11,382,161 American Depositary Shares (ADSs), equivalent to 113,821,610 Class B Ordinary Shares. This document pertains to the ADSs originally issued in connection with the company's acquisition of HSBC's banking, asset management, and insurance businesses in Argentina, which closed on December 6, 2024. The selling shareholder will have the right to sell these ADSs from time to time, at market prices or negotiated prices. The document outlines the financial position and market share of Banco Galicia, the main subsidiary, which is one of the largest banks in Argentina. As of September 30, 2024, Banco Galicia reported substantial assets and a robust customer base. The acquisition is expected to bring significant cost savings and synergies, although the integration might present challenges. The company does not expect to receive any proceeds from the sale of ADSs and emphasizes the risks involved in investing in the securities offered under this prospectus. The ADSs will be traded on the Nasdaq under the symbol 'GGAL.'

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