August 23, 2019
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 Thur
Government plans to offload 20.8m shares in the state-owned lender in a deal that could be worth $240m