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Itaú Buys $459M Carrefour Unit Stake

Brazil’s biggest non-government bank, Itaú Unibanco, has acquired a 49% stake in the local finance arm of Carrefour.

    Brazil’s biggest non-government bank,Itaú Unibanco收购了49%的股份,地方财政的基于“增大化现实”技术m ofCarrefour,Financial Timesreports. The bank will pay $459 million for the stake in the French retailer’s unit.

    ItaúoutbidBanco Bradesco,Banco do BrasilandSantander Brasil, addsReuters. The deal, which requires approval from the central bank, will allow Itaú to back the credit services offered in Carrefour’s Brazilian stores, which hold a total of 7.7 million accounts and a loan portfolio of $1.42 billion.

    Click here for the story fromFinancial Times.

    Click here for additional coverage fromReuters.

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