SAO PAULO, Sept 27 (Reuters) - Brazil will auction off the lottery unit of state bank Caixa Econômica Federal on Nov. 29 via the Sao Paulo stock exchange, state development bank BNDES said in a statement on Thursday.
BNDES is in charge of the sale process for the 15-year concession to operate the lottery with a minimum bid set at 156 million reais ($38.88 million). For each of the first three years, the operator must additionally make annual payments of 162 million reais.
In early July the bank had to cancel a planned auction of its lottery unit due to a lack of bidders.
$1 = 4.0127 reais Reporting by Carolina Mandl Editing by Tom Brown