Generali holds talks with BTG Pactual on BSI Sale

Assicurazioni Generali SpA said Wednesday, May 14, that it has entered into exclusive talks to sell its Swiss private bank BSI to Banco BTG Pactual.

“It’s a strategic investment. If we can come to a conclusion of such an agreement, the BSI will be part of the core business of the BTG “, said the President of the Brazilian Bank, André Esteves, according to Reuters.

The Executive also said that the Group evaluates several privatizations that are being made in Italy. He announced that invested in Italian bank Banca Monte dei Paschi di Siena for the medium term with the goal of making part of its reorganization and remain until the European institution recovers. He said supporting the Board of Italian bank.

This year, BTG Pactual, the Brazilian unit Europe BTG Pactual, bought a slice of 2% in Monte dei Paschi.