Under new management, the biggest state-owned bank in Brazil plans to restructure itself by selling distressed real estate and equity stakes in subsidiaries. Chief executive officer Pedro Guimaraes is overseeing the planned asset sales by Caixa Economica Federal to repay perpetual bonds issued by the Brazilian government that total approximately 40 billion reais ($11 billion). Caixa has assets valued at 1.3 trillion reais, and all extraordinary gains from asset sales “will be used to repay […]
source https://therealdeal.com/miami/2019/03/23/brazils-biggest-state-owned-bank-plans-to-sell-real-estate-to-repay-public-debt/#new_tab
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