March 14, 2019 / 12:49 PM / 6 days ago

Caixapar will subscribe Banco Pan's shares in capital increase - filing

SAO PAULO, March 14 (Reuters) - Caixa Participações, a unit of Brazil’s state-owned lender Caixa Econômica Federal, will subscribe 50 percent of the shares offered in Banco Pan’s 400 million real ($105 million) capital increase, according to a securities filing on Thursday.

After the capital increase, which was announced in 2017, Caixapar and Banco BTG Pactual SA will hold a 41.7 percent stake each. BTG had previously said it too would participate in the offering.

$1 = 3.8235 reais Reporting by Carolina Mandl and Ana Mano

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