Brazil’s Plural to Acquire Banco Modal

Brazil’s Plural to Acquire Banco Modal

Brazil M&A

Brazilian investment banking boutique Plural Capital has agreed to acquire Banco Modal, with the value of the deal reportedly estimated at around BRL130m ($80m). Both parties decline to offer additional comment. The move is seen as a play by Plural, which offers wealth management and investment banking services, to tap into Modal’s asset management business. Modal has BRL1.2bn in total assets and BRL220m under management, while Plural reportedly has more than BRL650m AUM. Under the deal, Mo

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