NEW YORK, Sept 4 — Brazilian billionaire Andre Esteves is in talks with an investor group from Singapore to sell a stake of about 15 per cent of his Banco BTG Pactual SA, Bloomberg News reported, citing a person familiar with the negotiations.

BTG, Brazil’s biggest equity underwriter, may conclude talks with the group led by the Government of Singapore Investment Corporation Pte Ltd in about a month, the person told Bloomberg News.

The news service said the person, who asked not to be identified because the talks aren’t public, didn’t provide details about the value of the deal and said the sale would not alter BTG’s plans for an initial public offering.

Esteves and partners had bought back the bank from UBS AG for US$2.5 billion (RM8 billion) last year.

BTG did not return a request seeking comment. Government of Singapore Investment Corp declined to comment. — Reuters