Government moves to reduce stake in Banco do Brasil

Government moves to reduce stake in Banco do Brasil

Structured Finance Brazil Equity Funds

Brazil's National Treasury, through its sovereign fund, plans to sell its shares in the state-owned lender Banco do Brasil over the next two years. The Investment and Stabilization Fund, or FFIE, owned entirely by the Brazilian sovereign fund, holds 3.67% of Banco do Brasil, or 105m shares. Banco do Brasil's shares closed at BRL32.36 ($10.12) on Monday, making the FFIE's stake worth BRL3.4bn. The Treasury has directed BB DTVM, the bank's investment management division, to sell the shares "in t

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