November 5, 2010
Brazil’s central bank has given the green light for Banco do Brasil to incr
Brazil’s central bank has given the green light for Banco do Brasil to increase its equity position in Banco Patagonia up to 75%. BdB acquired a 51% stake in Patagonia in April for $479.7m, which was authorized by the Brazilian central bank October 21. BdB raised a BRL9.8bn follow on in June, which it is expected to deploy toward overseas expansion. BdB is also said to be working with RBC to acquire banks in the US.