Brazilian investment bank BTG Pactual and Chile’s Celfin are seeking to form a joint venture, The Wall Street Journal reports. The companies have also started exclusive negotiations about the merger, which will create the largest Latin American investment bank. The transaction requires all regulatory and corporate approvals. BTG has approximately $61 billion in assets under management, whereas the financial and brokerage firm Celfin has $11 billion in third-party and private-wealth assets under management.
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