Finance / Brazil
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Bradesco Buys Agora Brokerage
March 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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One of Brazil's largest private banks, Bradesco, announced on March 6 that it will buy Agora, a leading brokerage, for CRL830mn (US$490mn). The all-stock transaction will give the Agora shareholders 8% of the capital of Bradesco's investment banking unit, BBI. BRL500mn will be paid for Agora, while the remaining BRL330mn will be paid for the market value of shares the brokerage has listed on Brazil's stock and futures exchanges, Bovespa and BM&F.