323,429,996 common shares will be acquired for R $ 11.42.
Caixa even announced that it would make an offer of shares on the stock exchange, but there was a “dual track” process and, on March 31, BTG sent a proposal to acquire all the shares, according to the state institution. BTG had a preemptive right to purchase the shares and, if it went to the stock exchange, it was considering acquiring only the slice necessary to have control.
Caixa had already sold all of Pan’s preferred shares on the stock exchange, considered a non-strategic asset for the state-owned bank. The first sale was made in September 2019, at R $ 8.43 per share. With the sale of ON, Caixa will have an estimated net profit of R $ 1.601 billion.
Taken together, all the divestment stages in Pan represent a profit of R $ 2.024 billion for the state bank, in addition to the reduction in the regulatory capital requirement.
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