French company Coface is in talks to bolster its shareholding in Brazilian credit insurer SBCE, Bart Pattyn, managing director at Coface Latin America, tells GTR.
Coface will almost triple its stake in SBCE to 75% from 27.5%, according to a September 24 report by Brazilian newspaper Valor Econmico. Banco do Brasil and BNDES, both Brazilian state-controlled banks, will keep the remaining 25%.
The Paris-based company is planning to buy the stakes of existing SBCE shareholders SulAmrica, Bradesco, Unibanco AIG and Minas Brasil, according to the paper. Coface and SBCE are members of the Berne Union, the London-based organization that spans the export credit and investment insurance industry worldwide.
Pattyn comments: “There have been discussions over the last year with the other shareholders of SBCE on a possible changed shareholding structure, both with the public and the private shareholders.”
He adds: “What the final structure will be can only be clear when everyone is in agreement.”