CCB seeks 72% of Brazilian lender
Source: Agencies |
November 2, 2013, Saturday
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Print Edition
Print Edition
China Construction Bank will acquire 72 percent of Brazil’s Banco Industrial e Comercial SA for 1.6 billion reals (US$719.6 million), the Chinese lender said yesterday.
The deal is subject to the approval of the China Banking Regulatory Commission and the Central Bank of Brazil, CCB said in a filing to the Hong Kong stock exchange. If successful, the deal would be the biggest by a Chinese bank in Latin America.
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