Banco do Brasil to acquire control of IRB Brasil Re
Banco do Brasil is likely to acquire control of IRB Brasil Re, Brazil’s state-controlled reinsurance company, in the first quarter next year, Brazilian newspaper Valor Economico has reported.
The bank, which owns less than 1% of the reinsurer, may acquire as much as 50% of the voting shares, the newspaper said.
Banco do Brasil will share management of IRB with other private shareholders
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