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BULLETIN: Unibanco-Uniao de Bancos Brasileiros S.A. Announces Change in Ownership Structure Aug 03
Standard & Poors, Aug 2003
Abstract
NEW YORK (Standard & Poor's) Aug. 5, 2003--On Aug. 1, 2003, Unibanco-Uni-o de Bancos Brasileiros S.A. (B+/Stable/B) and Unibanco Holdings S.A. (not rated) announced that two stockholders (Commerzbank AG and Mizuho Holdings Inc.) will sell their minority stakes in Unibanco and Unibanco Holdings, which account for about 14% of Unibanco's total capital, in a public offering. Commerzbank should maintain around 4% of total participation in Unibanco, while Mizuho agreed to sell its full stake. Regardless of this change, Unibanco's controlling shareholder (the Moreira Salles family) maintains its position with 66.7% of common shares. In Standard & Poor's Ratings Services' opinion, this change in shareholder structure does not affect Unibanco's strategic planning nor the bank's business profile; thus, this event will...
Companies mentioned in this report are: Unibanco-Uniao de Bancos Brasileiros, S.A.,Commerzbank AG
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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