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Brazil’s BTG mulls bid for JPMorgan physical commodities unit: source

Posted on 23 October 2013

Grupo BTG Pactual SA is considering a bid for JPMorgan Chase & Co’s physical commodities unit, a source familiar with the matter said, a move which would dovetail with the Brazilian bank’s plans to expand heavily into commodities sales and trading.
The bank, controlled by billionaire financier Andre Esteves, is currently analyzing the asset and reviewing its finances, said the source, who declined to be identified by name because the process is private. A deal is, at this point, “far away from being something concrete,” the person said, adding that no amount or terms have been discussed………………………………………..Full Article: Source


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