BTG Pactual's BSI Attracts Yet More Interest

After the surprising withdrawal of Safra Sarasin from the bidding war for BTG Pactual's BSI unit yesterday, another new potential buyer has announced its interest today.

The cantonal bank of the southernmost region of Switzerland, Banca Stato (or Banca dello Stato del Cantone Ticino as it is known in full), today announced its interest in buying the private bank which has been put up for sale by its owner, Brazil's BTG Pactual.

Banca Stato together with two unidentified partners declared its interest in buying BSI shortly before the end of 2015, the institute said.

The government of Ticino, the region which incidentally is also the home of BSI, has been informed about Banca Stato's intentions. The bank called the acquisition an «outstanding investment opportunity» which would also be in the interest of the entire financial market. Should it be able to buy the bank, a potential dividing up of BSI could be avoided.

No, No, Yes, Yes

Another potential buyer remains Banco Itaú. The Brazil-based institute has its own private bank in Switzerland and wants to participate in the consolidation of the market.

Julius Baer, which repeatedly was mentioned in the connection with a potential takeover, is «not really interested,» according to a report by «Reuters» news agency, which cited CEO Boris Collardi. Bank J. Safra Sarasin yesterday told «Handelszeitung» it had not intention of buying BSI.

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