Deals
BTG Pactual Said to Plan Sale of Swiss Private Bank BSI
- Brazil firm acquired BSI from Assicurazioni in September
- BTG is divesting `non-essential' assets, chairman says
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Grupo BTG Pactual SA, the Brazilian bank trying to shore up cash after the arrest of its billionaire founder, is seeking to sell BSI, the Swiss private-banking unit it acquired three months ago, according to a person with knowledge of the situation.
No details about the size of a potential transaction were provided by the person, who asked not to be identified because the matter is private. BTG acquired BSI from Italy’s Assicurazioni Generali SpA for 1.25 billion Swiss francs ($1.28 billion) in September. The transaction boosted BTG’s assets under management to $186.5 billion from $99 billion.