(Adds BNDES portfolio)
BRASILIA, July 16 (Reuters) - Brazilian development bank BNDES is looking to expedite the sale of nearly 100 billion reais ($26.62 billion) in listed assets, its newly named chief executive said on Tuesday during his inauguration.
CEO Gustavo Montezano also said the bank is working to pay back 126 billion reais in debt to Brazil’s government by the end of this year. Montezano is replacing Joaquim Levy, who resigned in June amid public tensions with President Jair Bolsonaro.
BNDESPar, the bank’s holding company, has investments in equities, domestic bonds, private equity funds and partnerships in small companies. It is worth roughly 100 billion reais in BNDES’ book.
Its largest stakes are in state-controlled oil company Petroleo Brasileiro SA, worth roughly 53 billion reais, and miner Vale SA, at 16.5 billion reais.
Its equity portfolio also includes shares in power company Centrais Eletricas Brasileiras SA, meatpacker JBS SA and pulpmaker Suzano SA.
Montezano is expected to further detail his plans for BNDES at a news conference Tuesday afternoon.
$1 = 3.7572 reais Reporting by Marcela Ayres; Additional reporting and writing by Carolina Mandl Editing by Susan Thomas and Chris Reese