Banco do Brasil S.A. (BOVESPA:BBAS3) has reached the final stages of negotiations to acquire City National Bank of Florida Inc. "Banco do Brasil is taking the final steps to acquire City National, and the conclusion of the transaction is expected later this month," a banker involved in the negotiations said in an interview. "The value of the acquisition could be close to $900 million." The banker did not wish to be named. Banco do Brasil was willing to pay only $750 million initially, according to previous reports. However, due to competition with other banks, Banco do Brasil has increased its offer, the banker said. The executive declined to name other banks in the dispute. "A top Banco do Brasil executive is in the U.S now to arrange final details of the deal," said the banker. Banco do Brasil Vice President for Finance, Ivan Monteiro, declined to comment directly on talks regarding City National. He added, "In the U.S., we want to meet the needs of Brazilians living there and Brazilian companies with operations there." Bankia, SA. (CATS:BKIA) has put City National Bank up for sale in 2012.

Bankia, SA. (CATS:BKIA) (Bankia) is expecting to receive binding bids for Bankia Habitat S.L.U. (Bankia Habitat) next week, daily Expansion quoted unnamed sources as saying. The buyer will acquire Bankia Habitat’s offices in Madrid and Valencia, the technology platform and 500 employees. The real estate assets and loan portfolio will remain in the hands of Bankia. The potential buyers include Morgan Stanley (NYSE:MS), Cerebrus Capital Management, L.P., Fortress Investment Group LLC (NYSE:FIG), Apollo Group Inc. (NasdaqGS:APOL), Oaktree Capital Group, LLC (NYSE:OAK) and TPG Capital, L.P.

International Consolidated Airlines Group, S.A. (LSE:IAG) has denied rumours about possible interest from Qatari investors in the acquisition of the 12% stake of Bankia, SA. (CATS:BKIA). Chief Executive Officer, Willie Walsh said in a brief phone conference in London that the information, announced by Financial Times, is not correct and IAG does not plan to respond to rumours.