Andrade Makes Offer to Acquire Brazil’s Banco BVA, Veja Reports

Brazilian businessman Carlos Alberto de Oliveira Andrade offered this week to buy Banco BVA SA, Veja magazine reported in its Radar column, without saying how it got the information.

Andrade, who has 700 million reais ($336 million) invested in BVA, is the only person to make an offer so far, the Sao Paulo-based magazine said. The lender was taken over by the central bank in October after regulators found deteriorating finances and violations of industry standards, issues on which the bank has declined to comment.

To contact the reporter on this story: Alex Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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