{"id":388966,"date":"2020-11-26T17:25:56","date_gmt":"2020-11-26T22:25:56","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=388966"},"modified":"2020-11-26T17:25:56","modified_gmt":"2020-11-26T22:25:56","slug":"material-fact-the-future-of-its-investment-in-xp-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/material-fact-the-future-of-its-investment-in-xp-inc\/","title":{"rendered":"Material Fact: The future of its investment in XP Inc."},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

S\u00c3O PAULO, Nov. 26, 2020<\/span> \/PRNewswire\/ —\u00a0Ita\u00fa Unibanco Holding S.A.<\/b>\u00a0(“Ita\u00fa Unibanco” or “Company”) advises its shareholders and the market in general that in line with the Material Fact disclosed on November 3, 2020<\/span>, 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<\/span> and listed on Nasdaq.<\/p>\n

The Company’s Board of Directors has today approved the segregation of this line of business of the Ita\u00fa Unibanco\u00a0conglomerate into a new company (“Newco”), by spinning off companies of the Ita\u00fa Unibanco\u00a0conglomerate, 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 Ita\u00fa Unibanco will thereafter also have an equity holding in Newco, whose sole asset will be the Investment in XP.<\/p>\n

The shareholders of Ita\u00fa 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.<\/p>\n

The outstanding shares of XP held by Ita\u00fa Unibanco, representing 5% of the capital stock of XP, may be sold, as previously advised, depending on market conditions.<\/p>\n

\n
\n ALEXSANDRO BROEDEL<\/span>
\n
\n <\/i>
\n Group Executive Finance Director and Head of Investor Relations <\/i>\n <\/p>\n

Ita\u00fa Unibanco \u2013 Comunica\u00e7\u00e3o Corporativa
(11) 5019-8880 \/ 8881 \u2013 imprensa@itau-unibanco.com.br<\/a><\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/material-fact-the-future-of-its-investment-in-xp-inc-301181067.html<\/a><\/p>\n

SOURCE Ita\u00fa Unibanco Holding S.A.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire S\u00c3O PAULO, Nov. 26, 2020 \/PRNewswire\/ —\u00a0Ita\u00fa Unibanco Holding S.A.\u00a0(“Ita\u00fa 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 Ita\u00fa Unibanco\u00a0conglomerate into a new company (“Newco”), by spinning off companies of the Ita\u00fa Unibanco\u00a0conglomerate, 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 … <\/p>\n

Continue reading “Material Fact: The future of its investment in XP Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-388966","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMaterial Fact: The future of its investment in XP Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/material-fact-the-future-of-its-investment-in-xp-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Material Fact: The future of its investment in XP Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire S\u00c3O PAULO, Nov. 26, 2020 \/PRNewswire\/ —\u00a0Ita\u00fa Unibanco Holding S.A.\u00a0(“Ita\u00fa 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 Ita\u00fa Unibanco\u00a0conglomerate into a new company (“Newco”), by spinning off companies of the Ita\u00fa Unibanco\u00a0conglomerate, with the spun off portion, representing 41.05% of the capital of XP (“Investment in XP”), being transferred to Newco. 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