Reuters first to report Credit Suisse, Julius Baer eye bids for BTG Pactual’s Swiss unit

Reuters was first to report that Credit Suisse and Julius Baer are among a handful of banks vying to buy the Swiss private-banking arm of embattled Brazilian investment bank Grupo BTG Pactual SA in a cut-price deal. Zurich-based Credit Suisse is exploring an offer that would value BSI at less than $1.01 billion, according to a Reuters source. This would be a 20 percent plus discount from what BTG paid for Lugano-based BSI in a deal completed in September.