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Itau Unibanco secures final approval to buy Citigroup retail banking in Brazil
October 26, 2017 / 9:19 PM / a month ago

Itau Unibanco secures final approval to buy Citigroup retail banking in Brazil

BRASILIA (Reuters) - Itaú Unibanco Holding SA (ITUB4.SA) said on Thursday it has received final central bank approval to buy Citigroup’s retail banking unit in Brazil and the deal will be competed by Oct. 31.

Itaú Unibanco agreed to buy Citigroup Inc’s (C.N) retail and insurance assets in Brazil in October for $220 million, further cementing the leadership of Latin America’s No. 1 bank by market value among wealthy clients in the country.

Reporting by Anthony Boadle; Editing by Sandra Maler

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