SAO PAULO, Jan 12 (Reuters) - Grupo BTG Pactual SA, the Brazilian investment bank selling assets in the wake of the arrest of founder André Esteves, said on Tuesday that discussions to sell a 51 percent stake in insurer Pan Seguros SA are taking place.
In a securities filing, BTG Pactual said that at this point it is not possible to assess whether discussions over the sale of the stakes it does own in Pan Seguros as well as insurance broker Pan Corretora SA will lead to bidders placing binding offers. BTG Pactual did not say who those bidders are.
Reuters reported on Tuesday that France's CNP Assurances SA entered exclusive talks with BTG Pactual for the asset. According to sources, CNP Assurances offered 1.6 billion reais ($396 million) for the stake.
Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama