December 27, 2019 / 12:05 PM / 25 days ago

Brazil antitrust regulator okays JV between BB and UBS to launch investment bank

SAO PAULO (Reuters) - Brazilian antitrust regulator Cade has approved a joint venture between state-controlled lender Banco do Brasil SA (BBAS3.SA) and UBS Group AG (UBSG.S) to launch an investment bank in South America.

In a securities filing, BB added that the conclusion of the partnership is subject to approval from Brazil’s central bank.

Reporting by Gabriela Mello, editing by Louise Heavens

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