May 29, 2019 / 12:40 AM / a year ago

Brazil's BTG Pactual shareholder to sell 2 bln reais in bank share offer

SAO PAULO, May 28 (Reuters) - Brazil’s largest investment bank Banco BTG Pactual SA said on Tuesday that its controlling shareholder is preparing to sell roughly 2 billion reais ($497 million) in shares in the bank.

The bank also said in a securities filing that it will partially transfer shares it holds in Swiss private bank EFG International to BTG Pactual Holding SA, in a deal that will increase the bank’s capital ratio.

BTG also announced it is creating a full service retail bank that will be lead by Amos Genish, former CEO of Telecom Italia . ($1 = 4.0247 reais) (Reporting by Carolina Mandl, Editing by Gabriel Stargardter and Rosalba O’Brien)

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