Brazil's Itau Unibanco buys stake in XP Inc for $1.6 billion

Reuters

Published Apr 29, 2022 05:47PM ET

(Reuters) - Brazilian lender Itau Unibanco said on Friday it has acquired an 11.36% stake in brokerage XP (NASDAQ:XP) Inc for around 8 billion reais ($1.61 billion).

The deal does not change XP's governance and should not have a relevant effect on the 2022 results, said the lender in a securities filing.