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Banco BTG Pactual proposes incorporation of its energy company unit

BTG Pactual Group's unit Banco BTG Pactual SA has proposed the incorporation of its energy company unit BTG Pactual Comercializadora Ltda.

"Given that BTG Pactual holds 100% of BTG Comercializadora's share capital, the incorporation will not result in a capital increase for BTG Pactual nor a new share issuance," the company said in a securities filing.

The transaction will be subject to Banco Central do Brasil's approval, the company noted.

The group's goal is to simplify its structure, Valor Econômico reported. The incorporation will be discussed in a Jan. 18, 2017, shareholders' meeting, the report said.