Brazilian police search BTG Pactual

Brazilian police search BTG Pactual

M&A Regulation Brazil Africa

Brazil's federal police have executed search warrants at addresses for BTG Pactual and its founder André Esteves, along with former Petrobras CEO Maria das Graças Foster. According to the federal public prosecutor's office, or MPF, the Lava Jato investigation is looking into sales of Petrobras assets in Africa to BTG Pactual. Petrobas sold 50% of its African businesses to BTG Pactual in 2013 for $1.53bn. The MPF said financial advisors had valued the assets between $5.6bn and $8.4bn. The MPF als

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