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Brazil state lender Caixa to sell lottery unit by year end -CEO
May 30, 2017 / 10:27 PM / 6 months ago

Brazil state lender Caixa to sell lottery unit by year end -CEO

SAO PAULO, May 30 (Reuters) - Brazil’s state lender Caixa Econômica Federal expects to sell its lottery licensing unit Caixa Instantânea SA by year-end, Chief Executive Officer Gilberto Occhi said on Tuesday.

Brazil´s government expects to sell the unit for around 2.2 billion reais ($675 million), according to estimates of the so-called National Privatization Plan. The bank has more than 13,000 lottery slots, many of which are operated by third-parties, across Brazil.

$1 = 3.2570 reais Reporting by Aluisio Alves; Writing by Tatiana Bautzer; editing by Diane Craft

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