World Economy

Merger Planned

Merger PlannedMerger Planned

Grupo BTG Pactual SA is in talks to combine its Swiss-based private-banking unit with EFG International AG in a transaction that could be announced as early as next week, two sources with knowledge of the plan said on Friday, Reuters reported. The structure under discussion would leave Sao Paulo-based BTG Pactual with a stake of 20% to 30% in the combined entity, said the first source, who asked for anonymity since the discussion remains private. Whether EFG incorporates BSI, or vice versa, will be decided based on the most efficient tax structure, the source said.