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BTG Pactual sells stake in retail chain Lojas Leader

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BTG Pactual sells stake in retail chain Lojas Leader

BTG PactualGroup and BTG Pactual Principal Investments FIP reached anagreement to offload100% of its shares in retail chain União de Lojas Leader S.A. to LegionHoldings for a symbolic amount, the bank said in an April 13 statement.

BTG Pactual said its investment in Leader "was notsignificant," adding that the deal is subject to regulatory approval andother conditions.

Legion Holdings is an investment company that specializes incorporate restructuring, the bank said.

In January, BTG filed an injunction to suspend a bankruptcy request filed againstLeader, in which the bank had a stake of about 70% in the retail chain throughits private equity arm and client funds.