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RIO DE JANEIRO, BRAZIL - Emgea (Asset Management Company), a state-owned company founded in 2001 to manage the Caixa Econômica (Federal Savings Bank) stock of stressed assets, is conducting the direct sale of around 400 properties at up to 70 percent discount as of Thursday, October 29th.

There are apartments, buildings, houses and commercial rooms repossessed from the recovery of credits acquired from the bank, spread throughout all regions of Brazil. Half of them are located in the Southeast region, 20 percent in the Northeast, 18 . . .

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