BdB in Talks to Buy Argentina’s Patagonia

BdB in Talks to Buy Argentina’s Patagonia

M&A

Banco do Brasil (BdB) is in talks with Argentina’s Banco Patagonia for the potential acquisition of a stake in the bank, both institutions say in regulatory statements filed Tuesday. The move is part of a BdB strategy to diversify into Argentina and compete with Itau, which has a strong presence in the country, say analysts. Patagonia officials say the bank always looks at opportunities to grow acquisitively, and has also entertained reverse inquiry. The bank was rumored to be a potential target

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