As SVB UK is supposed to be ring-fenced and isolated from the US entity, then real title is "HSBC spends 1 GBP, and gets a company worth 10B+ GBP, no liabilitie

As SVB UK is supposed to be ring-fenced and isolated from the US entity, then real title is "HSBC spends 1 GBP, and gets a company worth 10B+ GBP, no liabilities, and 1.4B profit on its balance sheet". "SVB U.K. had loans of around £5.5 billion and deposits of around £6.7 billion, with £88 million of full-year profit before tax in 2022, HSBC highlighted in the Monday statement. The bank expects SVB U.K.’s tangible equity to be around £1.4 billion, but added that “final calculation of the gain arising from the acquisition will be provided in due course."