Brazilian commercial real estate developer WTorre Properties was to announce as early as Wednesday the sale of a controlling stake to BTG Pactual, the largest Brazilian independent securities firm, according to a spokeswoman. The WTorre spokeswoman declined to elaborate on terms of the deal, which was reported on Wednesday by financial daily Valor Economico. According to the Valor report, the deal could be valued at about 1.8 billion reais ($1.1 billion). A BTG Pactual spokeswoman in Sao Paulo declined to comment.
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