Brazil’s Banco Safra buys Alfa financial conglomerate for $192 million

Reuters

By Tatiana Bautzer

SAO PAULO (Reuters) – Brazilian bank Banco Safra acquired control of financial conglomerate Alfa for 1.03 billion reais ($192.2 million), the bank said in a statement late on Wednesday.

Alfa, founded in 1925, was controlled by banker Aloysio Faria, who died in 2020. David Safra, one of the controlling shareholders in Grupo Safra, said the acquisition was an important milestone for the bank.

Related News:   New York, New Jersey Say Their Ports Can Take Additional Cargo While Baltimore Shut Down

Alfa was advised by Rothschild & Co. Safra’s investment bank advised the group.


($1 = 5.3591 reais)


(Reporting by Tatiana Bautzer; Editing by Bradley Perrett)

tagreuters.com2022binary_LYNXMPEIAN015-BASEIMAGE

You appear to be using an ad blocker

Shore News Network is a free website that does not use paywalls or charge for access to original, breaking news content. In order to provide this free service, we rely on advertisements. Please support our journalism by disabling your ad blocker for this website.