Deal Of The Week

Another week, another emerging market bank circles over distressed US banks. After China's Minsheng, whose bid for United Commercial Bank was rejected by the Fed, it is now the turn of Banco do Brasil, Latin America's largest bank by assets, to try its hand at US bank acquisitions. Banco do Brasil CEO Aldemir Bendine has announced US acquisitions to 'benefit from devalued prices'. Our view is that Banco do Brasil's chances of Fed approval are higher than Minsheng's were, given Brazil's stronger regulatory structure and the longer history of US-Latin America business ties. However, in a classic diversification play, Banco

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