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Brazil's Itaú Unibanco buys 40 percent of Banco Itaú BMG $445 million

  • Region:

    Brazil

  • Sector:

    Banks

  • Deal Size:

    $445 million

  • Buy Side Company:

    Itau Unibanco Holding SA
  • Sell Side Company:

    Banco Itau BMG Consignado
  • Target Company:

Brazil's largest private bank, Itaú Unibanco Holding SA has completed the acquisition of 40 percent of Banco Itaú BMG Consignado SA, specialized in payroll loans, for 1.46 billion reais ($445 million), the bank said in a securities filing on Wednesday. Itaú already held 60 percent of BMG Consignado, the filing said. The acquisition had been announced in September, but needed regulatory authorization to be completed.

Tags:

Brazil,US,BMG,M,A,ITAU,UNIBCO,HLDG,Americas,Mergers / Acquisitions / Takeovers,Company News,South America / Central America,Emerging Market Countries,Corporate Events,Banks,Financial Services