Banco do Brasil signals asset sales

Banco do Brasil signals asset sales

M&A Economy & Policy Corporate & Sovereign Strategy People

The new CEO of Banco do Brasil, Rubem Novaes, said the state-owned lender could sell non-core assets but did not mention which ones, according to press reports. "We understand that some of the bank's assets do not have synergies with its main activities. In these cases, we will really consider divestments," Novaes was quoted as saying. Novaes was also quoted as saying that Banco do Brasil could sell stakes in some of its businesses that "draw upon the strength of the bank to thrive." Novaes did

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