(WSJ) BTG Pactual has sold a 12% stake in hospital operator Rede D’Or São Luiz to GIC for R$2.38 ($616m). Additionally, BTG’s former CEO André Esteves has given up his controlling stake in the bank.

Brazilian investment bank BTG Pactual SA, whose co-founder and now former chief executive has been ensnared in the nation’s largest-ever corruption probe, is moving quickly to restructure as it scrambles to survive the blow to its reputation.

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