Nossa Caixa Hires JP Morgan, Morgan Stanley As Advisers
Wednesday August 20th, 2008 / 11h57
SAO PAULO -(Dow Jones)- Sao Paulo state-controlled bank Nossa Caixa (BNCA3.BR) said Wednesday that it hired JPMorgan Chase & Co. (JPM) and Morgan Stanley (MS) as advisers in its sale process. Currently, Brazil's federally controlled Banco do Brasil SA (BBAS3.BR) is in talks to acquire Nossa Caixa, however, both bank's so far did not unveil an estimated price for the possible deal. "We are talking internally about price and expect to close this deal by the end of the year," Banco do Brasil's President Antonio Francisco de Lima Neto, said recently. Banco do Brasil announced its interest in Nossa Caixa earlier this year in a move designed to fortify its position as Brazil's leading bank amid the growth of its private rivals. Any deal must still be approved by the federal and Sao Paulo governments before going through. Banco do Brasil, Brazil's largest bank in terms of assets, would increase its leadership significantly with the incorporation of Nossa Caixa. Banco do Brasil's total assets ended the first quarter, the latest date available, at BRL392.6 billion. Nossa Caixa ended the same period with assets at BRL51.5 billion. -By Rogerio Jelmayer, Dow Jones Newswires; 55-11-2847-4521; rogerio.jelmayer@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=17jN%2BY%2BLk7RqyXnxJNeFvw%3D%3D. You can use this link on the day this article is published and the following day.
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