Banco Itau (Brazil) acquires remaining shares of Uniao de Bancos Brasileros (Brazil) for US$ 4B

Banco Itau Holding Financeira acquires remaining interest in Uniao de Bancos Brasileiros SA from Itausa
Banco Itau Holding Financiera SA (BI) acquired the remaining 41.18% stake, or 44.13 mil ordinary shares and 1.112 bil preferred shares, which it did not already own, in Unibanco Uniao de Bancos Brasileiros SA (UU), a provider of banking, insurance and asset management services and a unit of Unibanco Holdings SA (UH), for 8.523 bil Brazilian reais ($3.955 bil US). BI offered 0.848 ordinary share per UU share and 0.288 ordinary share per UU preferred share. Based on BI's closing stock price of 23.3 reais ($10.812) on October 31, the last full trading day prior to the announcement, each UU share was valued at 19.758 reais ($9.168). The transaction had been subject to regulatory approval. Concurrently, Itausa Investimentos Itau SA {Itausa} merged BI with Unibanco Holdings SA. Subsequently, acquired an 89. 321% interest in Banco Itau Europa SA.