Brazil bank Itau sells stake in broker XP for $154 million -report
Reuters
Published Jun 07, 2022 10:30PM ET
(Reuters) - Brazilian lender Itau Unibanco Holding SA on Tuesday sold some of its roughly 11% stake in New York-listed broker XP (NASDAQ:XP) Inc for about $154 million, Brazil Journal reported without stating where it obtained the information.
Itau sold 6.78 million shares at $22.65 each, a 4.4% discount to the day's closing price, the business news website said without identifying the buyer or detailing the size of the bank's remaining stake.
The report comes almost a month after Itau denied it was in talks to sell a stake in XP to U.S. brokerage Charles Schwab (NYSE:SCHW) Corp.
Neither Itau nor XP responded to Reuters' requests for comment.
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Written By: Reuters
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