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Yeah but then you immediately own all their debt and liabilities. Which is why SVB UK was sold to HSBC for 1 pound because they were willing to take on all its
by vishnugupta 4y ago
Yeah but then you immediately own all their debt and liabilities. Which is why SVB UK was sold to HSBC for 1 pound because they were willing to take on all its debt.
- petercooper 4y agoI don't know about the rest of the world, but this "sold the business for £1" isn't uncommon in the UK: https://www.bbc.co.uk/news/business-44250900 https://www.bbc.co.uk/news/business-44250900
- drexlspivey 4y agoThat must be the steal of the century. Just sell all the chairs in their office and you 1000x your money
- petercooper 4y agoIt's all fun and games till all the staff demand their wages, suppliers demand their money, banks call in the loans, etc. That's the real reason such owners want to flee.