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Banco do Estado do Rio Grande do Sul SA announces strategic partnership with Icatu Seguros SA


Monday, 14 Jul 2014 04:37pm EDT 

Banco do Estado do Rio Grande do Sul SA:Signs memorandum of understanding with Icatu Seguros SA to initiate studies on participation in the insurer it will have exclusivity for the period of 20 years, for the commercialization of life insurance and pension plans in the distribution channels of the bank, without being limited only to these.Banco do Estado do Rio Grande do Sul SA will hold 50 percent stake in the new insurer, being 49.99 pct of ordinary shares and 50.01 pct of preferred shares, while Icatu Seguros SA should hold 50.01 pct of ordinary shares and 49.99 pct of preferred shares. 

Company Quote

11.54
0.03 +0.26%
31 Jul 2014