UPDATE 1-Brazil's BTG Pactual studies asset sales to bolster liquidity

viernes 4 de diciembre de 2015 19:55 GYT

(Adds quote, background on bank's decline, fund outflows)

BRASILIA Dec 4 (Reuters) - Brazil's troubled investment bank Grupo BTG Pactual is considering the sale of a series of assets to interested investors to improve its liquidity but has not signed any deals yet, the bank said on Friday in a securities filing.

BTG said it was studying the sale of parts of BSI, Recovery, Leader, UOL, BodyTech, BR Properties and Bravante, among other assets, to improve its cash position and stem outflows following the arrest of founder André Esteves last week.

BTG said its Banco BTG Pactual SA and BTG Pactual Participation Ltd units were recently approached by third parties interested in buying different assets.

"As a result of these contacts, the companies are considering these business opportunities and could, if they deem convenient, sell part of their assets to further increase their liquidity and strengthen their cash positions," the filing said.

Brazilian financier André Esteves resigned as chief executive officer and chairman of BTG Pactual late on Sunday after he was jailed as part of a corruption inquiry rapidly ensnaring Latin America's largest independent investment bank.

Earlier on Friday, BTG Pactual SA said it had secured a 6 billion-real ($1.6 billion) lifeline from a deposit guarantee fund backed by Brazil's top banks.

Clients pulled out and the bank's financing conditions deteriorated following the Nov. 25 arrest of Esteves, the bank's former controlling shareholder. The three major credit rating agencies have downgraded the bank's debt to junk status since his arrest.

BTG Pactual's Brazil registered fund had net outflows of 12.2 billion reais ($3.2 billion) from Nov. 25 to Nov. 30 and 3.04 billion reais on Nov. 30 alone, data from Brazil's fund industry group Anbima showed on Friday.

Esteves faces indefinite detention after prosecutors accused him of working with Senator Delcídio do Amaral, the ruling Workers' Party leader in the Senate, to obstruct a bribery probe at state-run oil company Petroleo Brasileiro SA (Petrobras) Esteves and Amaral have denied the allegations.

($1=3.8 reais) (Reporting by Anthony Boadle; Editing by Chris Reese and Dan Grebler)