CEF to Clinch Panamericano Acquisition

CEF to Clinch Panamericano Acquisition


Brazilian state-owned bank Caixa Economica Federal (CEF) is in final stages of discussion to acquire a large stake in Banco Panamericano, according to the latter. The mid-sized Panamericano says in a statement the talks surround the sale f 49% of the voting shares and 20% of the non-voting shares for a total of 35% [87.8m shares] of the company’s total equity. At Friday’s closing levels of BRL8.95, the [251m shares total] would be worth BRL786m. The deal is designed to avoid having CEF acquire a

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