Brazilian investment bank Grupo BTG Pactual SA has asked interested parties in its stake in debt collection firm Recovery do Brasil SA to deliver their proposals by Wednesday, five people with direct knowledge of the situation said. BTG Pactual has asked those interested in buying its 82% stake in debt collection firm, Recovery do Brasil SA, to deliver their bids by Wednesday; reports suggest that as many as 23 companies have expressed interest in the firm. Furthermore, Credit Suisse is said to be in talks to buy part of BTG Pactual's BRL 22bn ($5.7bn) credit portfolio. The Brazilian government will also need to approve a deal between BTC and Banco Bradesco (BCB) for the sale of an equity stake, which would give them control over 60% of the company.
BTG Pactual has asked those interested in buying its 82% stake in debt collection firm, Recovery do Brasil SA, to deliver their bids by Wednesday; reports suggest that as many as 23 companies have expressed interest in the firm. Furthermore, Credit Suisse is said to be in talks to buy part of BTG Pactual's BRL 22bn ($5.7bn) credit portfolio. The Brazilian government will also need to approve a deal between BTC and Banco Bradesco (BCB) for the sale of an equity stake, which would give them control over 60% of the company.