September 6, 2018 / 9:27 PM / 2 months ago

Banco do Brasil acquires additional stake in Argentina's Patagonia

SAO PAULO, Sept 6 (Reuters) - State-controlled Banco do Brasil SA said in a securities filing on Thursday that it has raised its stake in Argentina’s Banco Patagonia SA to 80.39 percent from 58.97 percent.

In June, Banco do Brasil announced that it would spend $202.4 million to increase its stake in Patagonia, a transaction that will reduce its capital ratio by 0.12 percentage points. (Reporting by Carolina Mandl; editing by Diane Craft)

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