Banco do Brasil confirms share sale

Banco do Brasil confirms share sale

Equity Economy & Policy Capital Markets Corporate & Sovereign Strategy Brazil

Banco do Brasil has confirmed that the federal government intends to sell shares in the state-owned lender, a deal that could be worth BRL970m ($238m) at current prices. The Investment Partnership Program, or PPI, has recommended that the government offload 20.8m common shares in Banco do Brasil as part of a privatization program. It also suggested that the national development bank BNDES manage the sale. Shares in Banco do Brasil slipped 0.68% after the announcement to close at BRL46.65 on Th

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