August 27, 2019 / 11:07 PM / 3 months ago

Brazil's Sergipe state to sell shares in bank Banese

SAO PAULO, Aug 27 (Reuters) - The local government of the Brazilian state of Sergipe is seeking to sell shares it owns in the government-run bank known as Banese, according to a securities exchange filing on Tuesday.

The Sergipe government notified Banco do Estado de Sergipe SA, as it is formally named, that it intends to sell a stake involving 45% of ordinary shares and 40% of preferred shares, the bank said in the filing.

The state government did not say how many shares it would sell in total, but said the sale would be within the statutory limits that require it to maintain its status as the controlling shareholder, according to the filing. (Reporting by Aluisio Alves Editing by Leslie Adler)

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