MATERIAL FACT: Purchase of Ideal Holding Financeira S.A.

Rhea-AI Summary

Itaú Unibanco has announced an agreement to acquire up to 100% of Ideal Holding Financeira over five years. The first phase involves a purchase of 50.1% for approximately R$650 million, thereby gaining control of Ideal. The second phase allows the acquisition of the remaining 49.9%. Despite this acquisition, Ideal will maintain operational independence and continue serving its clients. This strategic investment aims to enhance Itaú's investment ecosystem and access to innovative financial solutions, subject to regulatory approvals from CADE and the Central Bank of Brazil.

Positive

• Strategic acquisition of 50.1% of Ideal for R$650 million enhances control.
• Strengthens Itaú's investment ecosystem and access to innovative solutions.
• Potential for offering a broader range of financial products and services.

Negative

• None.

SÃO PAULO, Jan. 13, 2022 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Itaú Unibanco") informs its stockholders and the general market that, on this date, it has entered into an agreement with Ideal Holding Financeira S.A. and its subsidiaries ("Ideal") for the purchase of up to 100% of Ideal´s capital stock. The purchase will be carried out in two phases over five years. In the first phase, Itaú Unibanco will purchase 50.1% of Ideal´s voting capital, by means of a primary capital contribution and a secondary acquisition of shares totaling approximately R$650 million, then becoming the holder of the company's control. In the second phase, five years on, Itaú Unibanco will be able to exercise the right to buy the remaining share (49.9%) of Ideal´s capital stock.

The management of Ideal's business will remain independent from Itaú Unibanco, under the terms and conditions of the Stockholders' Agreement for this transaction. Against this backdrop, Ideal will continue to provide services to its clients and Itaú Unibanco will not be its exclusive service customer.

This transaction strengthens Itaú Unibanco's investment ecosystem and will enable (i) particularly, the provision of the talent and expertise of Ideal's professionals, renowned for their high ability to innovate in this industry, (ii) the offer of financial products and services ("broker as a service") under a B2B2C model through a white label platform, (iii) the potential expeditious entry of independent financial advisors into the market, and (iv) the improved distribution of investment products to individual clients.

Ideal is a fully digital broker that currently offers electronic trading and DMA (direct market access) solutions, on a flexible and cloud-based platform. Ideal has obtained its operation license in 2019 and was founded by executives highly experienced in the securities intermediation segment, it is today one of the leading brokers in traded volume on B3.

The investment in Ideal strengthens Itaú Unibanco's commitment with its clients seeking transformational solutions in an increasingly expanding market, thus enabling to increase the offer of products and services in the channels most convenient to each client profile and the sustainable business development.

The completion of the transaction is subject to approvals from the Brazilian Antitrust Authority (CADE) and the Central Bank of Brazil.

RENATO LULIA JACOB
Group Head of Investor Relations and Market Intelligence

 

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SOURCE Itaú Unibanco Holding S.A.

FAQ

What is the agreement between Itaú Unibanco and Ideal Holding Financeira?

Itaú Unibanco has agreed to acquire up to 100% of Ideal Holding, starting with 50.1% for R$650 million.

When will Itaú Unibanco complete the purchase of Ideal Holding?

The acquisition is phased over five years, with the first 50.1% being purchased now.

How much will Itaú Unibanco pay for Ideal Holding?

The initial purchase price for 50.1% of Ideal is approximately R$650 million.

Will Ideal Holding operate independently after the acquisition?

Yes, Ideal will retain operational independence and continue serving its clients.

What regulatory approvals are needed for the Itaú Unibanco transaction?

The transaction is subject to approvals from the Brazilian Antitrust Authority (CADE) and the Central Bank of Brazil.