Banco do Brasil will acquire U.S. lender, EuroBank, The Wall Street Journal reports. The Brazilian government-controlled bank will pay $6 million for the acquisition.
The acquisition, which is pending for approval from authorities in Brazil and the U.S., is part of the buyer’s strategy to expand its international operations. Banco do Brasil is also looking at acquisitions in other Latin American countries, including banks in Chile, Colombia, Ecuador and Peru.
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