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Brazil: Banco Pan to sell insurance company, brokerage

August 25, 2014 - 6:00am


Brazilian bank Banco PanAmericano S.A. has agreed to sell its insurance division Pan Seguros to Banco BTG Pactual S.A.'s insurance unit, BNamericas reported.

Additionally, Pan is selling its insurance brokerage Pan Corretora to Caixapar and BTG Pactual. The overall deal value is about 580 million Brazilian reals ($254.6 million).

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