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| Name | Symbol | Market | Type |
|---|---|---|---|
| Banco Do Brasil SA (PK) | USOTC:BDORY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.20 | 3.98% | 5.23 | 5.05 | 5.25 | 5.28 | 4.92 | 5.01 | 396,740 | 21:00:56 |
From Jun 2019 to Jun 2024
By Stephen Nakrosis
UBS Group AG (UBS) and Banco do Brasil SA (BDORY) said Monday they have entered a non-binding Memorandum of Understanding to establish an investment bank in South America.
The companies "believe that the formation of a strategic, long-term partnership would create a leading investment bank platform in the region with global coverage by building on the complementary strengths of UBS and Banco do Brasil," they said.
UBS is expected to be the majority shareholder in the project, holding a 50.01% stake.
If an agreement is executed, the UBS and Banco do Brasil will jointly provide investment banking services in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay, the companies said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 23, 2019 19:03 ET (23:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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