Brazil’s Indusval to Buy Intercap

Brazil’s Indusval to Buy Intercap

Brazil M&A

Sao Paulo based lender Banco Indusval has agreed to acquire Banco Intercap at its half-year book value, it says in a regulatory filing after Wednesday’s close. Intercap shareholders will take a stake in Indusval, with prices to be determined once financial statements to June 30 have been prepared. The deal will grow Indusval’s capital base, such that shareholder’s equity will total close to BRL700m ($320m). Indusval had a market cap of BRL451.6m at the end of the first quarter, and reported a pr

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