SAO PAULO, Jan 14 (Reuters) - Grupo BTG Pactual SA, the Brazilian investment bank which is selling assets in the wake of the November arrest of founder André Esteves, is in talks with France’s CNP Assurances SA over the sale of a 51 percent stake in Brazilian insurer Pan Seguros SA.
BTG Pactual has entered exclusive talks with CNP Assurances for the disposal of its entire stakes in Pan Seguros SA and in insurance broker Pan Corretora SA, it said in a securities filing on Wednesday.
Reuters reported on Tuesday that the two companies were discussing the deal. Citing sources, it said first-round bids in December valued the stakes at 1 billion to 1.3 billion reais ($250 million to $324 million).
Reporting by Guillermo Parra-Bernal; editing by Jason Neely