Swiss Get What Goldman Couldn'tUBS announced it will buy Brazilian investment bank Banco Pactual for $2.6 billion in early May. The Swiss banking conglomerate will pay $1 billion up front and the balance over the next five years for Brazil's largest independent investment bank. The deal, which is expected to close at the end of September, comes after a yearlong courtship between Pactual and Goldman Sachs fell apart in November. Skadden Arps provided legal advice on the deal to Pactual.
Abril Starts a New ChapterSouth African media group Naspers Ltd. bought a 30% stake in Brazilian media giant Grupo Abril for $422 million in early May. The purchase allowed Abril to call off a proposed IPO an
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