Bulletin: Banco do Brasil And Banco Votorantim Ratings Unaffected By Announced Share Acquisition Jan 09
- ID: 1833851
- January 2009
- Region: Brazil
- Standard & Poors
SAO PAULO (Standard & Poor's) Jan. 9, 2009--Standard & Poor's Ratings Services said today that the announced acquisition of shares of Banco Votorantim S.A. (BB+/Stable/B) by Banco do Brasil S.A. (BdB; BBB-/Stable/A-3) will not have an immediate impact on our ratings on either institution. With the acquisition, BdB will retain 49.9% of the common shares and 50% of the total shares of Banco Votorantim. The deal aims to give to BdB a stronger presence in the auto loan market, in which Banco Votorantim is among the top three players in the country. The transaction also leverages Banco Votorantim's origination and distribution capabilities through BdB's extensive branch network. BdB's expected cash payment for the stake in Banco Votorantim will not materially...
Companies mentioned in this report are:
- Banco do Brasil S.A
- Banco Votorantim S.A.
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