January 20, 2017 / 11:15 PM / in 3 years

Itaú Unibanco postpones acquisition of Colombia's CorpBanca

SAO PAULO (Reuters) - Itaú Unibanco Holdings SA (ITUB4.SA), Brazil’s largest private sector lender, said on Friday it has reached an agreement to postpone to January 2022 the acquisition of shares of Colombia’s CorpBanca.

Itaú’s deal for CorpBanca would give the Brazilian bank the fifth post among the Andean country’s largest retail banks. Initially Itaú Unibanco was to acquire CorpBanca shares on Jan. 29. No reason for the postponement was disclosed.

Itaú plans to buy Colombia’s CorpBanca using its Chilean arm Itaú CorpBanca.

Reporting by Alberto Alerigi Jr

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