ZURICH, Jan 13 (Reuters) - Swiss private bank J. Safra Sarasin has agreed to buy Ticino-based private bank BSI from Brazil’s BTG Pactual, Swiss newspaper Handelszeitung said on its website on Wednesday.
“Seller BTG Pactual has found an agreement with Basel-based private bank J.Safra Sarasin. Julius Baer was also interested, but withdrew from the negotiations,” Handelszeitung said, quoting “senior sources”.
The newspaper said it did not have information on the purchase price.
Reuters reported last month that the embattled Brazilian investment bank had decided to dispose of BSI as part of a strategy to sell assets and cut debt.
Reporting by Silke Koltrowitz and Brenna Hughes Neghaiwi