Mergers & Acquisitions Mergers & Acquisitions

Itaú-Totvs joint venture unconditionally cleared in Brazil

By Ana Paula Candil and Paula Mariane
  • 14 Oct 2022 15:10
  • 14 Oct 2022 15:23
Brazil-based bank Itaú Unibanco and software firm Totvs have received a Brazilian antitrust nod, without conditions, to operate a digital platform of financial services focused on small and medium-sized companies.

To form the joint venture, Itaú is planning to acquire a 50 percent stake in Totvs’ holding company Totvs Techfin and Totvs’ Supplier,

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Ana Paula Candil

Senior Correspondent, Latin America

Ana Paula joined MLex in Brazil in 2014 writing about antitrust investigations and merger reviews. Prior to that, she worked for several trade publications and in TV. She lived in Washington DC, where she worked for Al Jazeera English in 2010. She studied journalism and holds a postgraduate diploma in International Business Management from the George Brown College in Toronto and a Master of Business Administration diploma in government relations from Fundação Getúlio Vargas (FGV).

Paula Mariane

Correspondent, Latin America

Paula is a journalist and photographer from Brazil with more than 10 years of experience in covering social, political and international affairs. Before joining MLex, she worked at CNN Brasil and Al Jazeera as a writer and producer. TEDx speaker and author of the book “Bonds of Honor,” Paula is the first civilian to produce a long-term photographic series of the Brazilian Army.

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