BTG Pactual to buy Julius Baer's Brazil unit in $164 million deal, local media reports-March 2024-www.financetom.com

BTG Pactual to buy Julius Baer's Brazil unit in $164 million deal, local media reports

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BTG Pactual to buy Julius Baer's Brazil unit in $164 million deal, local media reports

Jan 6, 2025 12:25 PM

SAO PAULO, Jan 6 (Reuters) - Brazilian investment bank

BTG Pactual is set to announce the acquisition of

Swiss private bank Julius Baer's local unit in a deal

worth about 1 billion reais ($163.6 million), newspaper O Globo

reported on Monday.

BTG Pactual will announce the deal this week, according to

the report, which did not specify how it obtained the

information.

BTG Pactual and Julius Baer declined to comment.

Reuters

reported in November

, citing sources, that Julius Baer had tapped Goldman Sachs

to advise on the sale of its Brazilian operation.

($1 = 6.1113 reais)

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