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BANKING

Latin America round-up: Unibanco eyes AIG’s Brazil stake

Unibanco, which has a 52% stake in Brazilian insurance joint venture Unibanco AIG, is looking at buying the remaining share of the company if it goes on sale. The unit’s president, Jose Rudge, hinted in a conference call in September that Unibanco had the first right of refusal for the 48% share. "We are very attuned to opportunities that may arise from this and would analyse the opportunity to buy if it were for sale," says Rudge, adding that this would be a natural step for Unibanco. He declined to comment on whether AIG had offered to sell, or if Unibanco was in direct acquisition talks.