Is EFG-BSI merger at hand?
Grupo BTG Pactual SA is in talks to combine its Swiss-based private-banking unit, BSI, with EFG International AG in a transaction that could be announced as early as next week, two sources with knowledge of the plan said on Friday while requesting anonymity since the discussion remains private.
The structure under discussion would leave Sao Paulo-based BTG Pactual with a stake of 20 percent to 30 percent in the combined entity, said one source.
Whether EFG incorporates BSI, or vice versa, will be decided based on the most efficient tax structure, they said.
BTG Pactual and EFG, which is controlled by Greek billionaire Spiros Latsis, have been on exclusive negotiations for about a month, one of the source's added.
[Reuters]
