Brazil's BTG seen interested in re-entering bad loans market
Brazilian investment bank BTG Pactual is interested in acquiring bad loans from local lender Banco Econômico, according to daily Valor Econômico.
BTG recently signed a confidentiality agreement to gain access to information about Banco Econômico, which has been in extrajudicial liquidation since August 1996, according to the report.
BTG's interest stems from a desire to re-enter the bad loans market, which it left at the end of 2015, says Valor. The exit was due to liquidity problems following the arrest of former CEO and chairman, André Esteves, in connection with the Lava Jato corruption scandal that is still plaguing politicians and executives.
At the time, the investment bank sold its bad loans business, called Recovery, to the country's largest private sector bank Itaú Unibanco. In December of this year, on the two-year anniversary of the sale, the non-competition clause signed by BTG will expire, according to the report.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Brazil)
Why is approval of Lula's government on the slide?
A survey by Quaest/Genial showed that 51% of respondents approved Lula's administration, while 46% disapprove.
Brazil's mining regulator pleads for govt help
Last year, ANM employees staged a series of strikes asking for better working conditions and higher pay, claiming salaries were 40% below those at ...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Serra da Borborema III Wind Farm (Serra da Borborema Complex)
- Current stage:
- Updated:
7 hours ago
- Project: Serra da Borborema II Wind Farm (Serra da Borborema Complex)
- Current stage:
- Updated:
7 hours ago
- Project: Jambreiro
- Current stage:
- Updated:
6 hours ago
- Project: Guayasamin Road Solution
- Current stage:
- Updated:
7 hours ago
- Project: Daule - Pedro Carbo river irrigation project
- Current stage:
- Updated:
6 hours ago
- Project: Aguada Toledo - Sierra Barrosa area
- Current stage:
- Updated:
7 hours ago
- Project: Porto das Águas thermoelectric power plant expansion
- Current stage:
- Updated:
7 hours ago
- Project: Zacatecas 360 photovoltaic plant
- Current stage:
- Updated:
7 hours ago
- Project: Improvement of Route 66 Camino de la Fruta (Second Concession)
- Current stage:
- Updated:
2 hours ago
- Project: Submarine Cable Aurora
- Current stage:
- Updated:
7 hours ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Sereno Solar Energia LTDA
- Company: Subsea 7 S.A. (Subsea 7)
-
Subsea 7 S.A. is a provider of offshore projects and services for the energy industry, including the oil and gas and the renewable energy markets. The company works in all water...
- Company: Consorcio Santa María 004
- Company: Castro Tcherassi S.A. (Castro Tcherassi)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Puerto Brisa S.A. (Puerto Brisa)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Petrobahia S.A. (Petrobahia)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Alca Ingeniería S.A.S. (Alca Ingeniería)
-
Alca Ingeniería S.A.S. (Alca Ingeniería) is a Colombian civil engineering company founded in 2001 with offices in Bogota. Alca Ingeniería participates in the 20-year concession ...
- Company: Triturados El Chocho S.A.S. (Triturados El Chocho)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Atvos
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Cotavesa SRL. (Cotavesa)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
