BTG Plans to Spin Off $1.6 Billion Commodities Arm as Engelhart

  • Shareholders may get 65% stake; management gets `portion'
  • Separation follows arrest of BTG founder Esteves in November

Grupo BTG Pactual is spinning off its commodity-trading unit and renaming the division Engelhart Commodities Partners in a deal valuing the business at about $1.6 billion.

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