February 14, 2019 / 1:38 PM / a month ago

Banco do Brasil considers potential sale of Banco Votorantim, CEO says

SAO PAULO, Feb 14 (Reuters) - State-controlled lender Banco do Brasil SA is in talks with its partner, Grupo Votorantim SA, to explore alternatives for Banco Votorantim SA, Chief Executive Officer Rubem Novaes told journalists on Thursday.

Novaes said BB, as the bank is known, will hire an advisor in the coming days to determine which kind of deal could bring more value to shareholders, including a potential sale or an initial public offering. (Reporting by Carolina Mandl)

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