Troubled Panamericano May be Sold
Banco Panamericano could be sold by its controlling shareholder, Grupo Silvio Santos, according to bankers away from the deal. Panamericano, a mid-size Brazilian bank, was rescued last week by Santos with a BRL2.5bn capital injection following the discovery of “inconsistencies . . . that do not allow the financial statements to reflect the entity’s true state of assets,” according to the bank. The bank is now under criminal investigation, the Brazilian federal prosecutor’s Sao Paulo...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.