Brazil Caixa pays $429 mln for Panamericano stake

SAO PAULO Dec 1 (Reuters) - Government-controlled Brazilian bank Caixa Economica Federal agreed on Tuesday to pay 739 million reais ($429 million) for a 49 percent voting stake in commercial bank Banco Panamericano (BPNM3.SA) to expand in consumer lending.

Brasilia-based Caixa, the largest mortgage lender in Brazil, will share board seats with Panamericano's controlling shareholders, Panamericano said in a statement.

($1=1.72 reais)

(Reporting by Guillermo Parra-Bernal)

((guillermo.parra@thomsonreuters.com; +55-11-5644-7714; Reuters Messaging: guillermo.parra.reuters.com@reuters.net))