Friday, December 2, 2022
HomeBusinessBrazil's Banco Safra buys Alfa financial conglomerate for $192 mln

Brazil’s Banco Safra buys Alfa financial conglomerate for $192 mln

SAO PAULO, Nov 23 (Reuters) – Brazilian bank Banco Safra acquired control of financial conglomerate Alfa for 1.03 billion reais ($192.2 million), the bank said in a statement late on Wednesday.

Alfa, founded in 1925, was controlled by banker Aloysio Faria, who died in 2020. David Safra, one of the controlling shareholders in Grupo Safra, said the acquisition was an important milestone for the bank.

Alfa was advised by Rothschild & Co. Safra’s investment bank advised the group.

($1 = 5.3591 reais)

Reporting by Tatiana Bautzer; Editing by Bradley Perrett

Our Standards: The Thomson Reuters Trust Principles.

Abdullah Anaman
Abdullah Anamanhttps://aanaman.me
I am a highly competent IT professional with a proven track record in designing websites, building apps etc. I have strong technical skills as well as excellent interpersonal skills, enabling me to interact with a wide range of clients.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Most Popular

Recent Comments