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Banco do Brasil expanding wholesale division to provide restructuring advisory services

Banco doBrasil SA is expanding its wholesale division to provide advisoryservices to corporate clients looking to restructure their finances, Reutersreported April 5 citing Maurício Maurano, the bank's vice president forwholesale banking.

Possible solutions include mergers, debt extensions andrepurchases, according to the executive. The state-run bank already has 34 suchtransactions in the pipeline and another 50 under consideration, he reportedlysaid.

In addition to seeking alternatives for companies already in default,the bank is also looking to help other struggling clients sell-offnon-strategic assets to leveraged buyout firms in an effort to avoid defaulting.

According to data from credit research firm Serasa Experian,the number of extrajudicial liquidations requested totaled 155 in February,quadruple the number recorded in February 2015, Reuters noted.