UPDATE 1-Billionaire Esteves in talks to sell BTG stake – report

(Adds no comment from GIC)

NEW YORK, Sept 3 (BestGrowthStock) – Brazilian billionaire Andre
Esteves is in talks with an investor group from Singapore to
sell a stake of about 15 percent of his Banco BTG Pactual SA,
Bloomberg News reported, citing a person familiar with the
negotiations.

BTG, Brazil’s biggest equity underwriter, may conclude
talks with the group led by the Government of Singapore
Investment Corporation Pte Ltd [GIC.UL] in about a month, the
person told Bloomberg News.

The news service said the person, who asked not to be
identified because the talks aren’t public, didn’t provide
details about the value of the deal and said the sale would not
alter BTG’s plans for an initial public offering.

Esteves and partners had bought back the bank from UBS AG
(UBS.N: ) for $2.5 billion last year.

BTG did not return a request seeking comment. Government of
Singapore Investment Corp declined to comment.
(Reporting by Dhanya Skariachan; Additional reporting by Kevin
Lim; editing by Carol Bishopric and Lincoln Feast)

UPDATE 1-Billionaire Esteves in talks to sell BTG stake – report