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Banco Do Brasil Eyes Argentine Lender
Banco do Brasil is in advanced talks to acquire a controlling stake in Argentina’s Banco Patagonia.
Banco do Brasil is in advanced talks to acquire a controlling stake in Argentinas Banco Patagonia, Reuters reports. The acquisition is part of the Brazilian state-run banks overseas expansion plan.
Banco do Brasil is also looking to buy a bank in the U.S. to target Brazilian and Latin immigrants. The bank is selling about $5.1 billion of new shares to boost its capital base and raise consumer and corporate loans.
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