Itaú receives approval to purchase 49,9% of XP Investimentos.
Itaú Unibanco announced that it has received authorization from the Central Bank to purchase a stake in XP Investimentos, but with restrictions; the bank will be able to acquire 49,9% of the brokerage's shares, but will not be able to acquire controlling interest in XP Holding for eight years.
Reuters Itaú Unibanco announced this Friday that it has received authorization from the Central Bank to purchase a stake in XP Investimentos, but with restrictions.
The authorization is granted through the signing of a Concentration Control Agreement (ACC), through which certain commitments were made to the Central Bank, reinforcing the autonomy and independence of the XP group.
In a statement, Itaú said that options to purchase shares by the bank and to sell shares by XP Controle representing control of XP Holding have been cancelled, as well as any other possible future acquisitions of XP Holding shares.
Furthermore, the bank made a commitment to the Central Bank not to acquire controlling shares of XP Holding for eight years.