Brazil’s largest private bank, Itaú Unibanco Holding SA has completed the acquisition of 40 percent of Banco Itaú BMG Consignado SA, specialized in payroll loans, for 1.46 billion reais ($445 million), the bank said in a securities filing on Wednesday.
Itaú already held 60 percent of BMG Consignado, the filing said. The acquisition had been announced in September but needed regulatory authorization to be completed.
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Source: Reuters.com
