May 9, 2017 |
Brazil's National Treasury, through its sovereign fund, plans to sell its shares in the state-owned lender Banco do Brasil over the next two years.
The Investment and Stabilization Fund, or FFIE, owned entirely by the Brazilian sovereign fund, holds 3.67% of Banco do Brasil, or 105m shares. Banco do Brasil's shares closed at BRL32.36 ($10.12) on Monday, making the FFIE's stake worth BRL3.4bn.
The Treasury has directed BB DTVM, the bank's investment management division, to sell the shares "in t
National Treasury's sovereign fund plans to sell its shares in the state-owned lender over the next two years