February 25, 2019 / 4:59 PM / 8 months ago

Brazil's BTG Pactual expects to sell remaining stake in commodities unit this year

SAO PAULO, Feb 25 (Reuters) - Brazil’s Banco BTG Pactual SA expects to sell its remaining 20 percent stake in commodities trading firm Engelhart Commodities Trading Partners (ECTP) by year-end, Chief Executive Roberto Sallouti told analysts on Monday.

Sallouti said the move will likely stabilize the bank’s revenues as the division’s results were unstable. ECTP posted a 76.3 million reais ($20.46 million) loss in the fourth quarter. ($1 = 3.7291 reais) (Reporting by Carolina Mandl; Editing by Dan Grebler)

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