Caixa moves to unload IRB stake

Caixa moves to unload IRB stake

Equity M&A Corporate & Sovereign Strategy Brazil

Brazil's Caixa Econômica Federal is hiring banks to lead the sale of its stake in the reinsurance company IRB Brasil Re, according to press reports. The federal savings bank will likely pick Banco do Brasil, Bank of America Merrill Lynch, Bradesco and Itaú BBA to arrange the sale through a share offering on the B3 stock exchange in São Paulo. Caixa itself will also likely work on the deal, press said. Caixa owns 8.9% of IRB through the university scholarship fund Fgeduc. Other shareholders cou

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