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Article: Principal Financial Group Enters Brazilian Financial Services Market; Company Acquires Interest in BrasilPrev, Pension Affiliate of Banco do Brasil.
- Article from:
- Business Wire
- Article date:
- October 27, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DES MOINES, Iowa--(BUSINESS WIRE)--Oct. 27, 1999--
The Principal Financial Group, a leader in the U.S. financial and retirement services market, today announced it has acquired a 42.01 percent interest in BrasilPrev Previdencia Privada S.A. (BrasilPrev), the pension affiliate of Banco do Brasil, Brazil's largest bank. Banco do Brasil is the other major shareholder in BrasilPrev. The acquisition marks the company's entrance into the Brazilian financial services market and is further evidence of its strategy to be a global leader in retirement services. In the past several months, the Principal Financial Group has selectively entered and expanded in international ...