Nossa Caixa Up For Sale

May 2008 | M&A News Alert

Brazil's top lenders are vying for control of Nossa Caixa, the largest state-controlled regional bank in the country. The São Paulo bank has attracted interest from federally-controlled Banco do Brasil (BB) and three private banks: Banco Bradesco, Banco Itaú and União de Bancos Brasileiros. BB and Nossa announced on May 21 that the two banks were already conducting negotiations. What the bank will sell for is still unknown, although analysts are valuing the lender anywhere between BRL32 and BRL55 a share.

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