Grupo Silvio Santos’ former chief executive officer Luiz Sandoval and former executives of Banco Panamericano SA are seeking 150 million reais ($74 million) of workers’ compensation from Banco BTG Pactual SA, Veja magazine columnist Lauro Jardim reported, without saying where he got the information.
Brazilian media mogul Silvio Santos , whose lender Banco Panamericano SA is under investigation for alleged fraud, may sell all his holding company’s assets except the TV channels to pay back a 2.5 billion-real ($1.5 billion) loan, he said in an interview with Veja magazine.
Grupo Silvio Santos , majority shareholder of Banco Panamericano SA , may sell its stake to repay a 2.5 billion reais ($1.5 billion) loan from the nation’s deposit insurance fund taken out to rescue the lender, central bank President Henrique Meirelles said.
Silvio Santos , the Brazilian television host and controlling shareholder of Banco Panamericano SA , agreed to sell his stake to Banco BTG Pactual SA, the investment bank run by billionaire Andre Esteves , amid speculation losses are growing.
Grupo Silvio Santos President Luiz Sebastiao Sandoval resigned yesterday after a disagreement with Brazilian media mogul Silvio Santos, O Estado de S. Paulo reported, citing Sandoval and a company statement.
Grupo MM Mercado Moveis , a 140-store retail chain focused in the Parana and Santa Catarina states in the Southern region of Brazil, made an offer for Grupo Silvio Santos ’ Lojas do Bau Crediario stores in those states, Chief Executive Officer Marcio Pauliki said.
Brazilian securities regulators are investigating trading in Banco Panamericano SA shares after the stock jumped 10 percent twice in the six days prior to the bank’s Jan. 31 sale to Banco BTG Pactual SA.
Brazilian media baron Silvio Santos , who controls Banco Panamericano SA , was ultimately responsible for spotting accounting irregularities at his lender, and not Brazil’s central bank, the monetary authority’s President Henrique Meirelles told O Estado de S. Paulo .