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Stock Market News

Brazil’s Itau Unibanco buys stake in agribusiness marketplace Orbia

04/19/2022

Less than a minute

2022.04.19 00:42

Brazil's Itau Unibanco buys stake in agribusiness marketplace Orbia
FILE PHOTO: A man is reflected in an Itau branch window in Rio de Janeiro, Brazil April 29, 2019. REUTERS/Sergio Moraes

(Reuters) – Brazilian lender Itau Unibanco said on Monday it has reached a deal to acquire a 12.82% stake in the agribusiness marketplace Orbia, formally known as Rede Agro Fidelidade e Intermediacao.

In its securities filing, the bank said that Orbia, of which Bayer AG (ETR:BAYGN) and Yara Brazil Fertilizantes are also shareholders, is a digital platform that offers services to rural producers, allowing Itau “to offer credit solutions to Orbia’s customer base more efficiently.”

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04/19/2022

Less than a minute