Brazil Banks Lead Flow

Brazil Banks Lead Flow

M&A

Shareholders of Unibanco will receive one common share in Itaú Holding for every 1.1797 Unibanco ordinary unit and one Itaú share for every 3.4782 Unibanco preferred. Rothschild provided Unibanco with a fairness opinion while Morgan Stanley gave the same for Itaú.  Meanwhile, Brazil’s largest bank, state-owned Banco do Brasil (BdB) is heard to be in advanced talks to acquire part of Banco Votorantim. Industry executives away from the situation say BdB wanted a 49% stake in Voto with a bid heard valuing the entire institution at around $6 billion. Bradesco is also rumored to be in the running, seeking to purchase 100% of Voto, but the owning family does not wan

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