Panamericano Shareholder Seen Selling Assets

Panamericano Shareholder Seen Selling Assets

Bonds Structured Finance Brazil M&A

Grupo Silvio Santos will likely need to sell significant assets to repay a BRL2.5bn loan it took to shore up Banco Panamericano, according to Fitch. The comments by the ratings agency are echoed by Henrique Meirelles, president of Brazil’s central bank, who says the holding company may sell off its stake in the Brazilian lender. Santos has issued a statement saying it does not intend to sell its stake in Panamericano, though Fitch points out the holding company has other assets it could sell to

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