October 17, 2007
LatAm pension fund Previ and Brazil's state development bank BNDES plan to
LatAm pension fund Previ and Brazil's state development bank BNDES plan to sell shares they hold in Banco do Brasil in a secondary offering. No value or timing was given. The two said in July that they were considering selling as much as 5% of Banco do Brasil shares in an offer before the end of the year. BB Banco de Investimento, UBS Pactual and Deutsche Bank will lead. In another statement, the Banco do Brasil said that it would seek to hire investment banks to advise it on issuing ADRs.