July 7, 2021 |
Brazilian investment bank BTG Pactual has agreed to buy a 5% stake in online retailer Privalia and serve as an "anchor" investor in a possible initial public offering (IPO), according to a securities filing.
BTG's retail division, BTG+, will partner with Privalia after the investment and offer financial services through the e-commerce company, the bank said in the filing.
BTG has the option to acquire another 5% of Privalia from Veepee, a French retailer which owns 98.3% of the online retailer,
Brazilian bank agrees to buy at least a 5% stake and offer retail financial products through the online retailer