August 10, 2018 / 2:13 PM / a month ago

Revamped Itaú-XP deal bars change in control of XP until 2026 -sources

SAO PAULO, Aug 10 (Reuters) - A new deal sealed between Brazilian lender Itaú Unibanco Holding SA and financial services firm XP Investimentos SA’s controlling shareholders forbids any change in the control of XP until 2026, two sources with knowledge of the matter told Reuters.

The Brazilian central bank on Friday barred Itaú, Brazil’s largest private lender, from acquiring control of XP in an effort to safeguard competition in the financial sector. (Reporting by Carolina Mandl; Editing by Steve Orlofsky)

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