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Brazil's Caixa to pick advisers for unit IPO next week

BRASILIA Nov 21 Brazilian state-controlled lender Caixa Econômica Federal plans to pick the investment banks that will help underwrite the initial public offering of a unit as early as next week, Chief Executive Officer Gilberto Occhi said on Monday.

Speaking to reporters in Brasilia, Occhi said Caixa expects the IPO of Caixa Seguridade Participações SA, as the insurance unit is formally known, to take place sometime during the first half of next year, depending on how benign market conditions are. (Reporting by Alonso Soto and Marcela Ayres; Writing by Guillermo Parra-Bernal)

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