September 7, 2020 |
Brazilian national development bank BNDES stands to earn BRL7.15 billion ($1.35 billion) from the sale of its stake in pulp and paper company Suzano a month after it sold shares in mining company Vale.
BNDESPar, the development bank's investment division, has hired JPMorgan, Bank of America, Itaú BBA, Bradesco and XP Investimentos to coordinate the sale of its shares in Suzano on the B3 stock exchange in São Paulo, Suzano said in a securities filing.
BNDESPar owns 11% of Suzano. Shares in Suzano
Brazilian development bank could earn $1.35 bln for its shares in the pulp and paper company