BTG Pactual says to form new miner with former Vale CEO
SAO PAULO, July 12 |
SAO PAULO, July 12 (Reuters) - BTG Pactual, Brazil's largest independent investment bank, teamed up with Roger Agnelli, the former Vale chief executive, to set up a mining venture focused on Latin America and Africa, the bank said in a Thursday securities filing.
The venture in conjunction with Agnelli's investment company AGN Participacoes will involve planned investments worth up to $520 million to finance development and growth of the business through acquisitions and organic growth of operations, BTG said. (Reporting by Brad Haynes and Alberto Alerigi Jr.; editing by Jeffrey Benkoe)
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