UBS and Banco do Brasil appear to be considering joint ventures

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Swiss bank UBS

Banco do Brasil wants insiders to merge its investment banking activities called BB BI with the Brazilian UBS business.


(Photo: AP)

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.

Finance briefing

(T) Banco do Brasil (t) Investment Banking (t) Mergers & Acquisitions M & A (t) Risk Management (t) Taxpayers (t) Banks & Credit Institutions (t) Foreign Banking

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