Banco Indusval sells brokerage firm

Banco Indusval sells brokerage firm

Brazil M&A

Brazil's Banco Indusval said it has sold the financial services firm Guide Investimentos to the Chinese investment company Fosun for BRL290m ($92.4m).Fosun will pay BRL120m when the two sides sign a sale agreement and up to another BRL50m when the deal closes. Fosun will pay up to an additional BRL50m in 2018 and BRL70m in 2019 if Guide reaches certain performance goals.The acquisition puts Guide's total value at BRL414m, Banco Indusval said in a securities filing. Fosun will take a 70% stake in

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