Reuters logo
BTG Pactual to receive less cash from BSI after Singapore probe - source
May 24, 2016 / 12:36 PM / a year ago

BTG Pactual to receive less cash from BSI after Singapore probe - source

BRASILIA, May 24 (Reuters) - Grupo BTG Pactual SA is slated to receive less cash from the sale of Swiss bank BSI SA after Singapore closed down BSI’s operations in the city-state for breaching anti-money laundering rules, a source familiar with the situation told Reuters on Tuesday.

The source, who declined to be identified because of the sensitivity of the issue, declined to say how much the price would be reduced. BTG Pactual will seek compensation from Assicurazioni Generali SpA, BSI’s previous owner, in a equal amount, the source added. (Reporting by Guillermo Parra-Bernal; Writing by Silvio Cascione; Editing by Jeffrey Benkoe)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below