Brazilian financial company Grupo BTG Pactual may be interested in buying Brazilian unit of HSBC that has been put up for sale, Reuters reported citing local newspaper Valor Econômico.
The process of sale of HSBC Brasil has been initiated about ten days ago with BTG Pactual being offered the chance to take a look at the asset, the report says.
Valor Econômico’s report noted that if the deal materialses, it would help Grupo BTG Pactual almost double its BRL224.1bn in assets.
HSBC has hired Goldman Sachs Group to find a buyer for the underperforming unit, the publication added.
HSBC Brasil Banco Múltiplo, as the unit is formally known, had about BRL170bn in assets as of December 2014.