Brazil central bank bars Itaú from purchasing control of XP

BRASILIA, Aug 10 (Reuters) – The Brazilian central bank on Friday barred Itaú Unibanco SA, the nation’s private lender, from acquiring control of financial services firm XP Investimentos SA. Itaú will acquire a 30.1 percent stake in XP’s voting capital this month and may expand that to 40.0 percent starting in 2022, pending future central bank approval. Under the original terms of the deal, announced in May 2017, Itaú would have had the right to acquire control of XP as soon as 2024. (Reporting by Bruno Federowski)

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