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Brazil's Bradesco books $206 mln gain with sale

Wed Jul 8, 2009 8:31am EDT

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SAO PAULO, July 8 (Reuters) - Banco Bradesco (BBDC4.SA)(BBD.N), Brazil's second-largest private sector bank, said on Wednesday it would book a pretax gain of 410 million reais ($206 million) from the sale of a stake in credit card company VisaNet VNET3.SA.

The gain stems from the sale of an additional 2.2 percent stake in VisaNet on July 3 and will affect third-quarter earnings results, the Osasco, Brazil-based bank said in a regulatory filing. The bank on June 30 announced a 2 billion real gain from the sale of a 10.5 percent participation in VisaNet, the local affiliate of credit card network Visa Inc (V.N).

Shareholders raised 8.4 billion reais from the VisaNet offering last month, the largest IPO ever in Brazil and the world's biggest in the past 12 months, according to Thomson Reuters data. (Reporting by Guillermo Parra-Bernal, editing by Gerald E. McCormick)



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