SAO PAULO, Dec 3 (Reuters) - An auction on shares in Brazilian real estate investment trust BTG Pactual Corporate Office Fund at the São Paulo Stock Exchange raised about 174 million reais ($46 million) on Thursday, or about the maximum amount on offer, traders said.
An unnamed investor put 1.722 million shares in the REIT formally known as FII BTG Pactual Corp Office Fund up for sale on Wednesday, at 101 reais each, the exchange said.
Sources told Reuters that the seller was a company linked to Grupo BTG Pactual SA, the investment bank that has faced massive client money withdrawals since former controlling shareholder and Chief Executive André Esteves was arrested on Nov. 25.
New management at BTG Pactual is rushing to sell stakeholdings, pools of loans and other assets to shore up cash and restore investor confidence in the wake of Esteves’ detention. ($1 = 3.7446 Brazilian reais) (Reporting by Paula Arend Laier and Guillermo Parra-Bernal; Editing by Jonathan Oatis)