BTG Pactual Said to Consider Deal to Take Company Private
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Management said to negotiate with outside partners for buyout
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Expects to repay deposit-insurance-fund loan in first half
Grupo BTG Pactual, the Brazil investment bank that obtained rescue financing after its founder was arrested in November, may repay the bailout in part with proceeds from the sale of its Swiss wealth-management business and pursue a plan to buy out public shareholders, two people with direct knowledge of the matter said.
BTG management is negotiating with potential partners for help in purchasing the 116.7 million shares that trade on the Sao Paulo exchange, one of the people said, asking not to be identified because no final decision has been made. BTG’s eight top partners already own a controlling stake in the company. At Friday’s closing price of 16.20 reais, the publicly held shares are worth about 1.9 billion reais ($482 million)…
BTG Pactual Said to Consider Deal to Take Company Private
