February 15, 2019 / 12:54 PM / a month ago

Brazil's reinsurer IRB announces secondary share offering

SAO PAULO, Feb 15 (Reuters) - Reinsurer IRB Brasil Resseguros SA said a government fund managed by Caixa Economica Federal will sell its 8.9 percent stake in the company in a share offering that may raise roughly 2.5 billion reais ($673.27 million).

In a securities filing on Friday, IRB said the offering will be priced on Feb. 26.

The investment banking units of Caixa Econômica Federal, Bank of America Merrill Lynch, Banco Bradesco SA, Itaú Unibanco Holding SA and Banco do Brasil SA will manage the offering. ($1 = 3.7132 reais) (Reporting by Carolina Mandl Editing by Chizu Nomiyama)

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