UPDATE 1-Brazil's BNDES fires director after divestment dispute -sources [Reuters]
BANCO DO BRASIL SA S/ADR (BDORY)
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Source: Reuters
UPDATE 1-Brazil's BNDES fires director after divestment dispute -sources - Reuters 2 Min Read (Adds context, background) By Tatiana Bautzer and Rodrigo Viga Gaier SAO PAULO/RIO DE JANEIRO, Oct 17 (Reuters) - The majority of the board of Brazilian development bank BNDES has voted to dismiss director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales, two people with knowledge of the matter said on Thursday. One of the sources said the board members voted by phone in a meeting requested by BNDES Chairman Thadeu de Freitas. Press representatives for Laloni and the bank could not immediately be reached for comment. Laloni requested a leave of absence from the bank on Friday, after clashing with other directors over the sale of shares in state-controlled lender Banco do Brasil SA. The former UBS banker was planning to sell most stakes owned by the bank through marketed follow-ons while bank staff preferred to sell shares through the development ban
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