Sao Paulo The Swiss bank UBS and the Brazilian state-owned financial institution Banco do Brasil are considering information from insiders about the creation of a joint investment banking firm in Brazil. The negotiations between the two financial institutions are already at an advanced stage, said two people familiar with the plans. Banco do Brasil plans to merge its investment banking operations BB BI with the Brazilian UBS business.
Already in the next week, the project could be ready for signing. When founding the joint venture, no capital should flow. UBS and Banco do Brasil declined to comment.
(T) Banco do Brasil (t) Investment Banking (t) Mergers & Acquisitions M & A (t) Risk Management (t) Taxpayers (t) Banks & Credit Institutions (t) Foreign Banking