(CercleFinance.com) – BW Gestão de Investimentos (BWGI), an independent asset management company based in Brazil, announces that it has signed a definitive agreement with Crédit Agricole Assurances (CAA) to acquire the entire stake of approximately 6% held by CAA in Elis.
BWGI is a wholly owned subsidiary of Brasil Warrant Administraçao de Bens e Empresas (BWSA), a Brazilian holding company with numerous minority and majority stakes in leading global companies.
BWSA is part of the Moreira Salles group, which is also a major shareholder in Itaú Unibanco, the largest financial group in Latin America.
Xavier Martiré, Chairman of the Management Board of Elis, declared: ‘The support of BWGI as a long-term shareholder, present on the Supervisory Board, will allow Elis to continue its profitable growth in its markets and while providing value meaningful to all the Group’s stakeholders. ‘