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Brazil: Itau Unibanco nears sale of high-risk corporate insurance unit

July 3, 2014 - 6:00am

Brazil's Itau Unibanco Holding S.A. is in talks with a potential buyer for its high-risk corporate insurance unit, a securities filing has revealed.

The deal, worth around $1.5 billion Brazilian reals ($681 million), is expected very soon, Reuters reported. Local daily Valor Economico had cited ACE Ltd. as the potential buyer, but this has not been confirmed.

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