Credit Suisse (CS) will acquire about 50% stake in the Brazilian investment fund Hedging-Griffo, The Wall Street Journal reports. The Swiss multinational financial services company could pay more than $816 million to take over full control.
According to the agreement, Luis Stuhlberger, Hedging-Griffo’s founding partner and most prominent trader, will remain at Credit Suisse, adds Reuters. It paid $394 million for a 50% stake plus one share in 2006.
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