Itausa Sells 3.1 Million Shares of XP for About $79 Million
Provided by
Dow Jones
By Jeffrey T. Lewis
SÃO PAULO--Itaúsa said Thursday it sold 3.1 million shares in Brazil-based, U.S.-traded online brokerage XP.
The Brazilian investment holding company said it received about 390 million reais, the equivalent of $79 million, for the shares. Following the sale, Itaúsa's stake in XP was reduced to 2.7% of total shares.
The sale continues Itaúsa's plan of divesting shares in non-strategic assets, the company said. The money will be used to boost its cash position.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
September 14, 2023 08:30 ET (12:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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