Sao Paulo-based investment bank and asset wealth manager Grupo BTG Pactual said Brazil's presidential elections scheduled in October 2014 will curtail the mergers and acquisitions activity this year, Bloomberg reported.
Latin America's largest investment bank, Grupo BTG Pactual, has applied with the commercial licensing bureau of Michigan to manage a commodities warehousing business in the US.
The amount of USD3.3 billion is the price tag for the JPMorgan commodities business unit required from the bidding firms, such as Grupo BTG Pactual.
Grupo BTG Pactual was reportedly working up a bid to purchase the commodities unit of JPMorgan Chase & Co.
Grupo BTG Pactual got regulatory approval to open a broker-dealer unit in Mexico.
Andre Esteves' Grupo BTG Pactual exercised option to purchase MPX Energia shares.