Published by Global Banking and Finance Review
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
BTG Pactual is set to acquire Julius Baer's Brazil unit for $164 million, marking a significant move in the Brazilian banking sector.
SAO PAULO (Reuters) - Brazilian investment bank BTG Pactual is set to announce the acquisition of Swiss private bank Julius Baer's local unit in a deal worth about 1 billion reais ($163.6 million), newspaper O Globo reported on Monday.
BTG Pactual will announce the deal this week, according to the report, which did not specify how it obtained the information.
BTG Pactual and Julius Baer declined to comment.
Reuters reported in November, citing sources, that Julius Baer had tapped Goldman Sachs to advise on the sale of its Brazilian operation.
($1 = 6.1113 reais)
(Reporting by Andre Romani; additional reporting by Luciana Magalhaes; Editing by Brendan O'Boyle and Kylie Madry)
The acquisition deal is worth approximately 1 billion reais, which is about $163.6 million.
BTG Pactual is set to announce the deal this week, according to local media reports.
Both BTG Pactual and Julius Baer declined to comment on the acquisition.
Goldman Sachs was tapped to advise on the sale of Julius Baer's Brazilian operation.
The article mentions an exchange rate of $1 being equivalent to 6.1113 reais.
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