SAO PAULO Feb 6 The board of Brazil's Banco BTG
Pactual SA approved a plan to float shares of the
group's private equity and hedge fund operations separately from
its investment banking and money management operations, the bank
said on Monday.
According to a securities filing, the board voted to issue
separate units for each division, which will hold the same
rights as the current units listed under the "BBTG11" ticker.
Grupo BTG Pactual SA, Latin America's largest independent
investment bank, said last month it was mulling the impact of
segregating its two business divisions.
Banco BTG Pactual SA encompasses the group's investment
banking and money management activities, while BTG Pactual
Participations Ltd handles investments made with the bank's own
capital such as private equity, global hedge funds and property.
(Reporting by Bruno Federowski; Editing by Bernadette Baum)