ZURICH, Feb 19 (Reuters) - Swiss bank EFG International AG said on Friday it was in exclusive talks with Grupo BTG Pactual SA about acquiring the Brazilian company’s Swiss private bank BSI.
“EFG International (EFG) has taken note of an online Ticino media report according to which EFG is in exclusive discussions with BTG Pactual in relation to a potential acquisition of BSI and that a decision is imminent,” EFG said in a statement.
“In accordance with SIX regulations, EFG confirms that it is in exclusive discussions with BTG Pactual regarding a potential acquisition of BSI,” EFG said. “No decision has been made.”
Two sources with knowledge of the plan told Reuters this week that Sao Paulo-based BTG Pactual is in talks to combine its Swiss-based private-banking unit with EFG in a transaction that could be announced as early as next week.
Reporting by Joshua Franklin, editing by John Miller