CADE approves deal between BTG Pactual and Ibagué

Brasilia-the Administrative Council for economic Defense (Cade) approved without restrictions the acquisition of 70% of the Ibagué Empreendimentos e Participações by Banco BTG Pactual. The decision is the General Superintendence of the Cade and is published in the Diário Oficial da União (GIVE).
With the deal, 30% of the Ibagué continue belonging to its current shareholders Illiquid holdings controlled-East by Emmanuel Rose Hermann; Otair Guimarães; and Ricardo Lopes Cardoso, who hold one-third of the total of the shares of each company.
According to opinion of Cade about the business, Ibague is a firm that pre-operational was formed on 4 August 2016 solely for the purposes of this operation.
The company will act on provision of services related to financial administration, judicial and extrajudicial collection, settlement, receipt and, in General, management and retrieval of corporate credits and nonperforming portfolios of real estate stressed, consisting of real estate assets with economic value depreciated for reasons of various orders in relation, for example, the legal backlog, existence of encumbrances or liens , or possessory problems.