Itaúsa sold 7 million shares of XP Inc., or about 1.26% of the share capital, for an approximate total of R$ 665 million, the holding company said on Wednesday (6).
The amount raised was calculated based on the previous day’s exchange rate, Itaúsa said, as XP’s shares are listed in New York, in dollars.
The sale “results from the company’s strategic decision to reduce its stake in XP”, said Itaúsa, as well as the need for cash to cover the recent investment announced in the CCR infrastructure concession group.
The day before, Itaúsa and Votorantim announced an agreement to purchase the stake held by Andrade Gutierrez in CCR for R$4.1 billion.
After the sale announced this Wednesday, Itaúsa stated that it holds about 10.31% of XP’s share capital and 3.68% of its voting capital.
The operation should generate a positive impact of approximately R$300 million, net of taxes, on Itaúsa’s third quarter results, according to the material fact.
Source: CNN Brasil
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