Key Developments: Itau Unibanco Holding SA (ITUB.N)
13.06USD
19 Jun 2013
$-0.42 (-3.12%)
$13.48
$13.52
$13.53
$12.92
4,018,833
2,548,076
$17.34
$11.68
Latest Key Developments (Source: Significant Developments)
Cencosud SA Announces Binding Agreement with Itau Unibanco Holding SA for Joint Development of Financial Retail Business in Chile and Argentina
Cencosud SA announced it has signed a binding MOU with Itau Unibanco Holding SA (Itau) to jointly develop the financial retail business in Chile and Argentina. Under the terms of the agreement, Itau Chile will acquire 51% of the shares of CencosudAdministradora de Tarjetas (CAT), Cencosud's credit card operator in Chile. In Argentina, Cencosud will create a new entity, in which Itau Argentina will contribute with equity, to jointly develop the business. Additionally, in both countries Itau will provide funding to finance 100% of the current credit portfolio and future growth. The agreement signed today includes all the conditions for the establishment of the new partnership. During the next 90 days, the parties will work to translate these terms into the respective contracts. The final contracts are subject to approval from the regulators both in Chile, Brazil and Argentina. This partnership is aligned with the long-term strategic plan of Cencosud, which aims to enhance the financial services and value proposal offered to Cencosud's clients without the need to devote internal resources, replicating the successful business model currently operating in Brazil and Colombia. Cencosud will receive a total up-front cash payment of approximately USD1,580 million, of which USD280 million will be from the sale of 51% share of CAT and USD1,300 million in the form of payment of the credit card portfolio funding Full Article
Itau Unibanco Holding SA Acquires Banco Citicard SA and Citifinancial Promotora de Negocios e Cobranca Ltda
Itau Unibanco Holding SA announced that on May 14, 2013 it signed a contract with Banco Citibank SA and other companies of its conglomerate for acquisition of Banco Citicard SA (Banco Citicard) and Citifinancial Promotora de Negocios e Cobranca Ltda (Citifinancial) for BRL 2,767 million, including Credicard brand. Full Article
Itau Unibanco Holding SA Approves Bonus Shares
Itau Unibanco Holding SA announced that on April 19, 2013 it approved a share bonus to shareholders totaling 10% through the issue of 457,093,610 new shares of which 228,928,640 ordinary shares and 228,164,970 preferred shares to be distributed to shareholders in the proportion of one new shares of the given specious for each 10 shares of this specious held. It also approved the value of monthly dividend to be maintained at BRL 0.015 per share. The minimum annual dividend for preferred share will be kept at the value of BRL 0.022 per share. Full Article
Itau Unibanco Holding SA Announces Bonus Shares
Itau Unibanco Holding SA announced that on April 19, 2013 it will approve a share bonus to shareholders totaling 10% through the issue of 457,093,610 new shares of which 228,928,640 ordinary shares and 228,164,970 preferred shares to be distributed to shareholders in the proportion of one new shares of the given specious for each 10 shares of this specious held. It will also approve the value of monthly dividend to be maintained at BRL 0.015 per share. The minium annual dividend for preferred share will be kept at the value of BRL 0.022 per share. Full Article
Magazine Luiza SA Divests Credit Card Issue and Corresponding Assets of Luizacred to Itau Unibanco Holding SA's Affiliate
Magazine Luiza SA announced that on February 22, 2013, it signed an agreement with Itau Unibanco Holding SA and Banco Itaucard SA (Itau) for the transfer of credit card issue activities of Luizacred SA Sociedade de Credito, Financiamento e Investimento (Luizacred) and related assets to Itau's affiliate or to Itau. After the transfer, the Company will continue to receive 50% of Luizacred's and Cartao Luiza's profit (profit-sharing) Full Article
Itau Unibanco Holding SA CEO Succession Plan-Reuters
Reuters reported that Itau Unibanco Holding SA said Roberto Egydio Setubal agreed to step down as Chief Executive next year when he reaches the mandatory retirement age of 60. Full Article
Itau Unibanco Holding SA Announces FY 2012 Complementary Own Capital Interest Payment; Own Capital Interest Payment Date
Itau Unibanco Holding SA announced that on February 4, 2013 its Board if Directors approved complementary own capital interest for fiscal year 2012 in the amount of BRL 0.3824 per share (net value of BRL 0.3250 per share) to be paid on March 14, 2013 to the shareholders on record as of March 5, 2013. Shares will be traded ex-interests as of March 6, 2013. The Company decided also that the payment date for own capital interests approved on November 29, 2012 is March 14, 2013. Full Article
B2W Companhia Global do Varejo Updates on Sale of Exclusivity Rights Held by Lojas Americanas SA Following Dissolution of Partnership with Itau Unibanco Holding SA in FAI to Itau Unibanco Holding SA
B2W Companhia Global do Varejo announced that following the information disclosed to the market on January 2, 2013 that its controlling company Lojas Americanas SA (LASA) offered the Company the part of exclusivity rights acquired by LASA for the supply, distribution and commercialization of financial products and services, insurance and private pensions through distribution channels of the Company in the framework of closing of the partnership with Itau Unibanco Holding SA in FAI - Financeira Americanas Itau SA Credito, Financiamento e Investimento. The Company and LASA will finalize the rights transfer through the payment of BRL 16,500,000 which will take place on January 11, 2013. Full Article
Itau Unibanco Holding SA Announces Own Capital Interest Payment
Itau Unibanco Holding SA announced that it has approved own capital interest in the amount of BRL 0.3120 per share (net value of BRL 0.2652 per share) to be paid by April, 30, 2013 on account of the mandatory dividend for the 2012 fiscal year, to the shareholders on record as of December 21, 2012. Shares will be traded ex-interests as of December 26, 2012. Full Article
Itau Unibanco Holding SA Issues USD 1.7 Billion Subordinated Notes
Itau Unibanco Holding SA announced on November 5, 2012 an issue of subordinated notes totaling USD 1.70 billion, with a fixed rate of 5.125% and the maturity period in May 2023. The price bid was 100% resulting in the return to investors of 5.125%. The subordinated notes were offered to qualified institutional buyers and not American (non-US person) outside the territory of the United States of America. Full Article
Itau Unibanco to buy stake in Cencosud credit card business
SANTIAGO - Brazil's largest private-sector bank, Itau Unibanco Holding SA , will buy a 51 percent stake in Chilean retailer Cencosud's credit card business in Chile and Argentina for $307 million, the companies said on Monday.
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