September 3, 2019 / 3:26 PM / 3 months ago

Brazil's Itausa looking at 15 potential acquisition targets: CEO

SAO PAULO (Reuters) - Brazilian investment holding Itausa Investimentos SA (ITSA4.SA) is looking at 15 targets for potential acquisitions, mainly companies in less regulated industries, Chief Executive Officer Alfredo Setubal told investors at a conference on Tuesday.

Itausa, in partnership with Brazilian LPG distributor Copagaz, offered the highest bid to acquire the LPG unit owned by state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), known as Petrobras. Setubal said the bid “adds value to Itausa shareholders”.

Reporting by Aluisio Alves; Writing by Tatiana Bautzer

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