Bank of America - Bank of America sold BankBoston's operations to Brazilian bank Banco Itaú
Time: 2006
Place: São Paulo, Brazil
Details: Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In 2006, Bank of America sold BankBoston's operations to Brazilian bank Banco Itaú, in exchange for Itaú shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America (ending the BankBoston brand).
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