IRB Brasil shareholders approve share offering - Banco Bradesco
SAO PAULO Aug 21 (Reuters) - Shareholders of re-insurer IRB Brasil RE SA have decided to file for permission from Brazil's CVM securities regulator to hold a share offering, Banco Bradesco SA said in a securities filing on Friday.
Banco do Brasil has a stake of about 20 percent in Rio de Janeiro-based IRB Brasil. The federal government has a 27 percent stake, while state-run Banco do Brasil also has about 20 percent and Itau Unibanco SA about 15 percent.
IRB Brasil, formerly a state monopoly, has been preparing an initial public offering as part of its strategy to grow more aggressively in Latin America and Africa. (Reporting by Caroline Stauffer; Editing by Alan Crosby)
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