Latin American round up: Banco do Brasil finalizes Voto stake

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By:
Chloe Hayward
Published on:

Banco do Brasil has agreed to buy a 50% stake in Banco Votorantim for R$4.2 billion ($1.84 billion), much less than originally expected. Last year there were rumours that Banco do Brasil would buy 49% of Votorantim for R$6.5 billion. The combined entity will have R$553.3 billion in assets, R$275.7 billion in deposits and a credit portfolio of R$232.8 billion.