Banco Panamericano is in advanced discussions with two banks interested in buying the Brazilian lender, Bloomberg reports. The financial details of the transaction and the names of the two banks were not disclosed. The interested parties are analyzing Panamericano’s public financial statements and waiting for the lender’s third-quarter results to make potential bids. The acquisition of Panamericano will have to be approved by Brazil’s state savings bank, Caixa Economica Federal and Brazil’s deposit insurance fund, FGC.
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