Brazilian Bank BTG Says Esteves No Longer a Controlling Shareholder

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  • Bonds continue to slump after Moody's downgrade to junk
  • Company raises $618 million with sale of Rede D'Or stake

BTG Pactual SA’s Partners Take Control of the Bank

Grupo BTG Pactual SA founder Andre Esteves lost control of Latin America’s largest independent investment bank a week after his arrest in a corruption probe, as his former partners rushed to stem a rout in the firm’s bonds, shares and funds.

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