Banvor to Get Equity Injection

Banco Votorantim is preparing a BRL2bn ($971m) equity increase, says Banco do Brasil, which owns half of the Brazilian lender. BRL1bn would come from Banco do Brasil and the other BRL1bn from Grupo Votorantim, through the Votorantim Financas unit. It does not offer additional details of the operation, which is subject to shareholder approval.