Bloomberg News

Bradesco Close to Buying Minority Stake in BMG, Valor Says

July 09, 2012

Banco Bradesco SA (BBDC4) will reach an agreement to buy a stake in Banco BMG SA in the next few days, newspaper Valor Economico reported, without saying how it obtained the information.

The agreement would give Bradesco a minority stake in BMG with an option to take control of it in the future, the Sao Paulo-based newspaper reported. Bradesco started talks with BMG last week after Banco BTG Pactual SA lost exclusive rights to buy a stake, according to Valor.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net


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