SÃO PAULO, Nov. 26, 2020
/PRNewswire/ -- Itaú Unibanco Holding S.A. ("Itaú
Unibanco" or "Company") advises its shareholders and the market in
general that in line with the Material Fact disclosed on
November 3, 2020, it has concluded
internal discussions about the future of its investment in XP Inc.
("XP"), a company with its principal place of business in
Cayman Islands and listed on
Nasdaq.
The Company's Board of Directors has today approved the
segregation of this line of business of the Itaú
Unibanco conglomerate into a new company ("Newco"), by
spinning off companies of the Itaú Unibanco conglomerate, with
the spun off portion, representing 41.05% of the capital of XP
("Investment in XP"), being transferred to Newco. The spin-off from
the Company shall be the subject of deliberations by the General
Meeting of Shareholders and, once approved, the shareholders of
Itaú Unibanco will thereafter also have an equity holding in Newco,
whose sole asset will be the Investment in XP.
The shareholders of Itaú Unibanco will in due course receive
further information about the intended spin-off, in addition to all
the details for their participation in the General Meeting,
pursuant to Brazilian Securities Commission Instructions 481/09 and
565/15.
The outstanding shares of XP held by Itaú Unibanco, representing
5% of the capital stock of XP, may be sold, as previously advised,
depending on market conditions.
ALEXSANDRO
BROEDEL
Group Executive Finance Director and Head
of Investor Relations
Itaú Unibanco – Comunicação Corporativa
(11) 5019-8880 / 8881 – imprensa@itau-unibanco.com.br
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SOURCE Itaú Unibanco Holding S.A.