Cristiane Lucchesi – Bloomberg, 04/19/2012
Barclays Plc (BARC)’s Brazil subsidiary is negotiating with Plural Capital Ltda., the asset manager and financial-advisory firm founded by former Banco BTG Pactual SA partners, to work together on underwriting and selling equity transactions, two people familiar with the talks said.
Under the agreement, Banco Barclays SA would sell Plural’s Brazil deals outside the country, said the people, who asked not to be identified because the matter is private. Plural, based in Sao Paulo, would sell to its Brazil customers equity originated by Barclays.
A surge in deals and growing demand for corporate financing is boosting the investment-banking sector in Brazil, the second- largest developing economy after China. Plural will own a broker-dealer in the country with its planned acquisition of Flow Corretora de Mercadorias Ltda, people familiar with the takeover talks said in September. It will have a banking license when the central bank approves the purchase of Banco Equity, an inactive financial institution owned by Banco Prosper SA.