IN BRIEF: Brazil's antitrust body okays Banrisul-Icatu partnership

Wednesday, November 12, 2014

Brazil's antitrust regulator Cade approved without restrictions a partnership between state-owned bank Banco do Estado do Rio Grande do Sul (Banrisul) and insurance and private pension group Icatu Seguros.

The firms will create an insurance holding company in which Banrisul will own 49.99% and Icatu the remaining 50.01%, according to the country's official gazette.

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The partnership aims to consolidate Banrisul as a key insurance provider in Rio Grande do Sul state and Brazil's southern region.