DEAL TALKS FOR PACTUAL & CHILE BROKER

25 Aug, 2011

Negotiations to create largest Latin American Investment Bank

BTG Pactual and Celfin have announced that they have entered into exclusive negotiations with respect to a potential merger of the companies. The transaction is subject to the negotiation of definitive transaction documents, completion of due diligence, and the receipt of all required regulatory and corporate approvals.

If completed, the merger would create the largest Latin American Investment Bank with a leading position in many of the most important LATAM Markets. The institutions believe that they share similar cultures and that significant synergies could be created in the merger that would benefit their respective clients, employees and shareholders.

BTG Pactual is a leading Investment Bank in Brazil in equity issuances, M&A deals and local debt issuances and is one of the leading emerging market-based asset managers, with over US$64.5 bn under management and/or administration. With over 28 years experience in the Brazilian and international markets, BTG has a presence in São Paulo, Rio de Janeiro, Recife, Belo Horizonte and Porto Alegre in Brazil as well as New York, London and Hong Kong.

Celfin is a leading financial and brokerage firm with operations in Chile, Peru and Colombia.

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