Itaú acquires an 11.36% stake in XP for around R$ 8 billion

The acquisition of this additional asset was planned since the original agreement between the two parties was signed in 2017, even though the Central Bank barred Itaú from acquiring control of the brokerage.

The acquisition of this additional asset was planned since the original agreement between the two parties, signed in 2017

By: SiiLA News

05/02/2022

Itaú reported that, after obtaining the necessary approvals for approximately R$ 8 billion, it acquired 11.36% of XP's capital today. The acquisition of this additional asset was planned since the original agreement between the two parties was signed in 2017, even though the Central Bank barred Itaú from acquiring control of the brokerage.

"Itaú Unibanco clarifies that this transaction does not change the corporate governance of XP Inc. According to the bank, this operation is not expected to have material effects on the Company's results for this fiscal year".

Source: Valor Econômico

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