April 7, 2021 |
Brazilian investment bank BTG Pactual said early Tuesday it agreed to pay BRL3.7 billion ($661 million) for the stake in local midsize lender Banco Pan held by federal savings bank Caixa Econômica Federal.
BTG said its subsidiary Banco Sistema agreed to acquire the 49.2% voting stake equivalent to 26.8% of Banco Pan's capital held by Caixa Participações.
BTG agreed to pay BRL11.42 per share for CaixaPar's stake, which represents a 1.6% premium over the share price of BRL11.24 on Monday. Shares i
Brazilian investment bank agrees to pay $660 mln for 27% of the midsize commercial lender