| EFG International AG has agreed to pay 1.33 billion Swiss francs (US$1.34 billion) for Grupo BTG Pactual SA’s Swiss private-banking unit BSI Ltd in a deal that could catapult it into the nation’s top-five money managers for the wealthy.
The acquisition, which comes five months after Brazil-based BTG Pactual (BBTG11.SA) sealed a deal to buy BSI for 1.25 billion francs, will be paid for in cash and stock. Under terms of the deal, EFG will incorporate BSI, making BTG Pactual the No 2 partner in the combined firm after Greece’s Latsis family...............................................Full Article: Source
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