The transaction is expected to be completed in the first quarter of 2025
THE BTG Pactual announced on Tuesday 7th that it has signed the final documents relating to the purchase of 100% of the share capital of the Brazilian operation of the Swiss group Julius Baer, focused on the management of large assets and which holds 61 billion Brazilian reals in assets under management, for R$615 million.
The negotiations were carried out by Transmission on Monday 6, while the Julius Baer group confirmed this Tuesday the sale of the Brazilian business to BTG.
“The acquisition of Julius Baer Brasil is part of the expansion strategy of BTG Pactual’s Family Office segment, which has been operating since 2010 and, upon completion of the transaction, will manage more than R$100 billion,” we read in a note to the market .
Julius Baer said in a statement that it will continue to serve Brazilian clients from other locations and that international operations based in the country will remain unchanged.
The transaction is expected to be completed in the first quarter of 2025, following regulatory approvals. / With Dow Jones Newswires.
Source: Terra
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