Market Chatter: Banco Santander Brasil, XP Show Interest in Julius Baer's Brazil Unit

MT Newswires Live12-20

Banco Santander Brasil (BSBR) and XP (XP) have shown interest in Julius Baer Group's Brazil unit, Bloomberg reported Thursday, citing people familiar with the matter.

The two companies, along with Banco BTG Pactual and Banco Safra, are in talks to acquire the Julius Baer unit, which could fetch a price of about 1 billion Brazilian reais ($163.3 million), the people reportedly said.

Julius Baer is aiming to strike a deal as soon as January and may agree to a joint venture instead of a total sale, according to the report. The discussions could still fall apart, it added.

The companies didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 3.89, Change: +0.11, Percent Change: +2.78

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