Feb 22 (Reuters) - Brazilian investment bank Grupo BTG Pactual SA is in negotiations with potential partners to buy out public shareholders as it seeks to repay the rescue financing it obtained following the arrest of founder Andre Esteves in November, Bloomberg reported on Monday, citing two people familiar with the matter.
BTG management is in negotiations with potential partners to help purchase the 116.7 million shares that trade on the Sao Paulo exchange, Bloomberg said, citing the people. (bloom.bg/1T1ZQWA)
A spokesman for BTG Pactual in Sao Paulo declined to comment.
EFG International said on Monday it had agreed to buy BTG Pactual SA’s Swiss-based private-banking unit, BSI, for 1.33 billion Swiss francs ($1.31 billion).
To bolster cash and stem outflows following Esteves’ arrest, the company secured a 6 billion-real ($1.52 billion) lifeline from privately owned deposit guarantee fund FGC in December. ($1 = 0.9983 Swiss francs) ($1 = 3.9493 Brazilian reais) (Reporting by Rama Venkat Raman in Bengaluru; Editing by Matthew Lewis)