BTG Pactual has reportedly submitted a securities filing in which it said that it plans to buy back up to 10% of its outstanding shares over the next 18 months, in an effort to "create value for shareholders". This follows the news that the company's CEO, Petroleo Brasileiro, was arrested yesterday as part of the ongoing corruption investigations that have troubled Brazil's construction sector and oil company Andre Esteves.
BTG Pactual has reportedly submitted a securities filing in which it said that it plans to buy back up to 10% of its outstanding shares over the next 18 months, in an effort to "create value for shareholders". This follows the news that the company's CEO, Andre Esteves, was arrested yesterday as part of the ongoing corruption investigations that have troubled Brazil's construction sector and oil company Petroleo Brasileiro.