May 10, 2018 / 12:35 PM / a year ago

Creditors lead effort to sell Brazil's Odebrecht rail unit-sources

SAO PAULO, May 10 (Reuters) - Brazilian creditors of conglomerate Odebrecht SA are leading the efforts to sell the group’s commuter rail operator Supervia Concessionaria de Transporte Ferroviario SA, as banks pressured the corruption-ensnared group to accelerate asset sales, three people with knowledge of the matter said.

Odebrecht hired Banco BTG Pactual SA as an adviser months ago to sell Supervia, the sources added, asking for anonymity because talks are still private.

But failure to reach an agreement with potential acquirers after talks with investors made creditors such as Banco Bradesco SA and Itau Unibanco Holding SA interfere and transfer the mandate to sell the company to their investment banking units. (Additional reporting by Carolina Mandl in Sao Paulo, Stanley Carvalho in Abu Dhabi Editing by Jeffrey Benkoe)

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