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April 3, 2008 |
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UNIAO DE BANCOS: Will Establish Investment Bank Uniao de Bancos Brasileiros SA will form investment bank Unibanco Banco de Investimentos to make more money from initial public offerings, Brazilian financial daily Valor Economico reports. According to Valor Economico notes that Unibanco Banco de Investimentos will begin with BRL400 million in capital. Business News Americas relates that Uniao de Bancos has hired former BNDES Chief Eleazar de Carvalho Filho to be in charge of distribution and former Credit Suisse employee Eduardo Gentil to be responsible for business origination. Headquartered in Sao Paulo, Brazil, Uniao de Bancos Brasileiros SA -- http://www.unibanco.com/ -- is a full-service financial institution providing a range of financial products and services to a diversified individual and corporate customer base throughout Brazil. The company's businesses comprise segments: Retail, Wholesale, Insurance and Pension Plans and Wealth Management. Uniao de Bancos and its associated companies FinInvest, LuizaCred, PontoCred and Tecban (Banco 24 Horas) offer a network composed of 17,000 points of service. It also counts on 7,580 automated teller machines and all 30 Hours' products and services, including the telephone service and the Internet banking. The company's international network consists of branches in Nassau and the Cayman Islands; representatives offices in New York; banking subsidiaries in Luxembourg, the Cayman Islands and Paraguay; and a brokerage firm in New York -- Unibanco Securities Inc. * * * To date, Standard & Poor's Ratings Services rated Unibanco-Uniao de Bancos Brasileiros SA's long-term foreign issuer credit rating and local issuer credit rating at 'BB+'. VALMONT INDUSTRIES: Revenue Growth Cues Moody's Rtng Lift to Ba1 |
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