May 6, 2019 / 12:00 PM / a year ago

Brazil's Bradesco agrees to buy Florida bank for $500 mln -filing

SAO PAULO, May 6 (Reuters) - Brazil’s Banco Bradesco SA has agreed to pay approximately $500 million for BAC Florida Bank, which focuses on high net worth non-resident individuals, according to a securities filing on Monday.

After the acquisition is complete, Bradesco said it will assume the operations of BAC Florida, with the main objective of expanding the offering of investments in the U.S. to its affluent clients, the filing said. (Reporting by Ana Mano)

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