July 12, 2016 / 1:03 AM / 2 years ago

BTG Pactual engaged in talks to buy Banif's Brazilian unit

SAO PAULO, July 11 (Reuters) - Grupo BTG Pactual SA , the Brazilian investment bank that struggled late last year with the arrest of billionaire founder André Esteves, is currently engaged in talks to acquire the Brazilian unit of Portugal’s Banif Banco de Investimento, according to a filing on Monday.

In the securities filing, BTG Pactual said a non-binding offer for Banif’s Banco Internacional de Funchal Brasil SA and other unnamed assets has been accepted by shareholders of the Portuguese lender. If the purchase is completed, the Banif Brasil acquisition would represent the equivalent of less than 0.5 percent of BTG Pactual’s current assets, the filing said. (Reporting by Guillermo Parra-Bernal; Editing by Leslie Adler)

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