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BTG Pactual Participations Ltd (BBTG36.SA)

BBTG36.SA on Sao Paolo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

EFG completes BSI acquisition for preliminary 1.06 bln Sfr
Tuesday, 1 Nov 2016 01:41am EDT 

EFG International AG :Says has completed the acquisition of BSI for a preliminary purchase price of chf 1,060 million.  Full Article

BSI says H1 net profit stood at 66.2 mln Swiss francs
Wednesday, 10 Aug 2016 11:55am EDT 

: BSI says h1 consolidated net profit stood at chf 66.2 million (1h2015: chf 78.1 million), influenced by series of extraordinary items (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

EFG International to take over BSI’S business in Singapore in accelerated asset deal
Thursday, 14 Jul 2016 12:06pm EDT 

EFG International Ag : Says to take over BSI’s business in Singapore in an accelerated asset deal .Subject to obtaining required approvals, the migration of the acquired part of the business is planned to complete by the end of November 2016 at the latest..  Full Article

EFG International announces future management structure after closing of BSI acquisition
Tuesday, 5 Jul 2016 01:14am EDT 

EFG International AG : Announces future management structure after closing of acquisition of BSI . Extraordinary general meeting will be held on July 26 .Proposes to EGM creation of additional authorized capital of 15,000,000 registered shares.  Full Article

BSI says Roberto Isolani to replace Stefano Coduri as group CEO
Tuesday, 24 May 2016 01:20am EDT 

: BSI says takes note of the announcements by FINMA and MAS in relation to past compliance gaps related to the 1mdb case . BSI says integration process with EFG is progressing smoothly and as previously announced, once the transaction closes, BSI will be fully merged and integrated into EFG . BSI says Monetary Authority Of Singapore (MAS) will be allowing the transfer of the assets and liabilities of bsi bank limited (BSI’s Singapore subsidiary) to the Singapore branch of EFG bank ag . BSI says financial penalties levied by FINMA and MAS will be paid from BSI’s general reserves for banking risks . BSI says Stefano Coduri decides to step down with immediate effect. Roberto Isolani appointed group CEO . BSI says has undertaken steps to strengthen management, including introduction of a new chief risk officer and the appointment of a new group legal counsel (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

EFG International says fine in 1MDB case will result in reduction in BSI purchase price
Tuesday, 24 May 2016 01:15am EDT 

EFG International Ag : Says receives approval from the Swiss financial market supervisory authority FINMA regarding the proposed acquisition of BSI . Says transaction is on track and is expected to complete at the latest in the fourth quarter of 2016, as originally announced . Says taken note of FINMA’s and MAS' press releases in connection with the BSI related 1MDB matter . Says share purchase agreement with BTG Pactual has an indemnity in relation to these and certain other matters up to the overall purchase price . Says indemnity backed by material Swiss escrow account which, at closing, will contain 51.0m EFG shares issued to BTG as consideration, with shares locked up for 2 years .Says the fine and the penalty will result in a reduction in the purchase price and that the indemnities and escrow account remain unchanged.  Full Article

BTG Pactual Participations Ltd - BTG Pactual Chile cuts 16 pct of workforce as Brazil scandal bites - Reuters
Tuesday, 23 Feb 2016 11:23am EST 

BTG Pactual Participations Ltd:The Chilean arm of Brazilian financial group BTG Pactual BBTG11.SA said Tuesday that it had fired 16 percent of its workforce, as part of cost-cutting restructuring in the wider company following the arrest of its billionaire founder.- RTRS.BTG Pactual Chile said that the reduction of 58 workers was aimed at cutting costs by around 25 percent.BTG Pactual Chile said the job cuts would not affect business operations. Despite press speculation about an impending sale late last year, the Chilean business has not been formally put up for sale.  Full Article

EFG International to buy BTG Pactual SA's Swiss bank BSI
Sunday, 21 Feb 2016 07:00pm EST 

EFG International AG:EFG International and BSI to join forces to form a leading Swiss private bank.Combined EFG and BSI to become one of largest private banks in Switzerland with approx. CHF 170 billion in assets under management1 (as at Dec. 31, 2015).Subject to shareholder and regulatory approvals, completion of transaction expected in fourth quarter 2016.BTG Pactual to become EFG shareholder with approx. 20 pct while EFG Group will remain largest shareholder with over 35 pct.  Full Article

BTG Pactual Participations Ltd to plan more job cuts,pay 2015 bonuses in two tranches -Bloomberg - Reuters
Friday, 12 Feb 2016 06:35am EST 

BTG Pactual Participations Ltd:Grupo BTG Pactual SA, is planning to announce more job cuts, this time in London and some Latin America countries excluding Brazil, said people familiar with the matter -Bloomberg.The Sao Paulo-based bank will also reduce bonuses to executives this year and pay them in two tranches: 30 % in February and 70 percent in November, the people said, asking not to be identified because no public announcement has been made. -Bloomberg.BTG fired 305 of its 1,653-person workforce in Brazil and made cuts at the New York office on Jan. 28. -Bloomberg.The bonuses, based on 2015 results, usually are paid in February. The bank will keep the payment 100 percent in cash, one person said. The announcements of the job cuts and change on the bonus payments may happen on Feb. 22, some of the people said -Bloomberg.Separately, the firm also reduced bonuses to some traders at its hedge fund unit by as much as 80 percent, according to a person familiar with those decisions. -Bloomberg.The BTG Pactual GEMM Fund, which bets across asset classes based on economic trends, has seen assets drop to about $250 million, the person said, from more than $4 billion in November. -Bloomberg.  Full Article

BTG Pactual Participations Ltd fires 18 pct of Brazil-based staff to cut costs - Reuters
Thursday, 28 Jan 2016 12:21pm EST 

BTG Pactual Participations Ltd:Grupo BTG Pactual SA cut about 18 percent of Brazil-based staff on Thursday after the embattled investment-banking firm moved to reduce costs by 25 percent. - RTRS.In a securities filing, BTG Pactual dismissed 305 out of the 1,653 employees based in São Paulo, Rio de Janeiro and other Brazilian cities. No business area will be deactivated as a result of the job cuts, the filing said. - RTRS.  Full Article

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UPDATE 2-Brazil's BTG Pactual to keep high capital ratios to fan growth

SAO PAULO, Feb 15 Grupo BTG Pactual SA will keep high capital ratios in coming quarters to prepare Latin America's No. 1 independent investment bank to grow in core activities, following a dramatic balance sheet downsizing last year, Chief Executive Officer Roberto Sallouti said on Thursday.

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