September 27, 2018 / 9:51 PM / 2 months ago

Brazil to auction off state lottery in November

SAO PAULO, Sept 27 (Reuters) - Brazil will auction off the lottery unit of state bank Caixa Econômica Federal on Nov. 29 via the Sao Paulo stock exchange, state development bank BNDES said in a statement on Thursday.

BNDES is in charge of the sale process for the 15-year concession to operate the lottery with a minimum bid set at 156 million reais ($38.88 million). For each of the first three years, the operator must additionally make annual payments of 162 million reais.

In early July the bank had to cancel a planned auction of its lottery unit due to a lack of bidders.

$1 = 4.0127 reais Reporting by Carolina Mandl Editing by Tom Brown

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