China Construction Bank (CCB; 939.HKG, 601939.SHA) is in advanced talks to acquire Brazil’s troubled Banco Industrial e Comercial (BICB4.SA), Reuters reported, citing a person familiar with the matter. Through the purchase, CCB would gain direct access to Chinese companies buying into South America’s natural resources. BicBanco has a market value of US$778 million after its shares rose 62% since September 23 after takeover reports in local media. If successful, the purchase would be the first of a Brazilian bank by one of China’s big four state lenders since going public after a government restructuring. It would also be the biggest Chinese bank deal in Latin America.