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    Home > Finance > BTG and XP submit top offers for Brazilian unit of Julius Baer, source says
    Finance

    BTG and XP submit top offers for Brazilian unit of Julius Baer, source says

    Published by Global Banking and Finance Review

    Posted on January 24, 2025

    2 min read

    Last updated: January 27, 2026

    This image illustrates the competitive bidding process for Julius Baer's Brazilian unit, highlighting BTG Pactual and XP Investimentos as key players in the finance sector.
    BTG Pactual and XP Investimentos submit offers for Julius Baer's Brazilian unit - Global Banking & Finance Review
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    Quick Summary

    BTG Pactual and XP Investimentos lead offers for Julius Baer's Brazilian unit, aligning with the company's expectations.

    BTG and XP Submit Leading Offers for Julius Baer Brazil Unit

    By Luciana Magalhaes

    SAO PAULO (Reuters) - A pair of Brazilian financial heavyweights has submitted the most competitive offers so far to acquire the local unit of Swiss-based lender Julius Baer, a person familiar with the deal said on Monday.

    The source pointed to investment bank BTG Pactual and local financial institution XP Investimentos as having made the top two offers.

    The first round of bidding occurred late last year and "proposals by BTG and XP aligned more closely with Julius Baer's expectations," the person added.

    Banks Santander and Safra also participated in the first round of bidding, according to the same source.

    Julius Baer, BTG, XP, Santander and Safra declined to comment on the potential deal.

    Earlier on Monday, O Globo newspaper reported that BTG was set to announce the acquisition of the Julius Baer unit this week for approximately 1 billion reais ($164 million), though the paper did not disclose its source of information.

    According to the source close to the transaction, Julius Baer considered its Brazilian unit to be worth around 1.4 billion reais.

    In November, Reuters reported that Julius Baer had tapped Goldman Sachs to advise on the sale.

    $1 = 6.12 Brazilian reais

    (Reporting by Luciana Magalhaes in Sao Paulo; Editing by David Alire Garcia and Matthew Lewis)

    Key Takeaways

    • •BTG Pactual and XP Investimentos made top offers for Julius Baer's Brazilian unit.
    • •The first bidding round occurred late last year.
    • •Julius Baer values its Brazilian unit at 1.4 billion reais.
    • •Santander and Safra also participated in the bidding.
    • •Goldman Sachs advised Julius Baer on the sale.

    Frequently Asked Questions about BTG and XP submit top offers for Brazilian unit of Julius Baer, source says

    1What is the main topic?

    The main topic is the acquisition offers for Julius Baer's Brazilian unit by BTG Pactual and XP Investimentos.

    2Who are the main bidders?

    The main bidders are BTG Pactual and XP Investimentos.

    3What is the estimated value of the Brazilian unit?

    Julius Baer's Brazilian unit is valued at approximately 1.4 billion reais.

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