Banco do Brasil Said Among Top Bidders for Bankia Florida Unit
April 3, 2013 by Avila Capital Markets, Inc.
Banco do Brasil SA has emerged as one of the top suitors for Bankia (BKIA) SA’s Florida unit, which may fetch $800 million, said people familiar with the matter.
Bankia is working with Goldman Sachs Group Inc. to find buyers and has narrowed the group of prospective suitors for City National Bank of Florida down to a handful, said the people, who asked not to be named because the process is private. Final bids for the 26-branch bank are due in three to four weeks, the people said.
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