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Banco Brasil books $100 mln gain from VisaNet sale

Wed Jul 8, 2009 8:41am EDT

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SAO PAULO, July 8 (Reuters) - Banco do Brasil (BBAS3.SA), Brazil's largest state-controlled bank, said on Wednesday it would book a pretax gain of about 200 million reais ($100 million) from the sale of a stake in credit card company VisaNet (VNET3.SA).

The gain stems from the sale of an additional 14.3 million common shares in VisaNet, which will be reflected in third-quarter earnings results, the Brasilia-based bank said in a regulatory filing.

The bank on June 30 announced a 1.42 billion real gain from the sale of a 7.05 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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