January 1, 2010
Now the bank is believed to be eyeing other markets in which to expand, although it has not confirmed anything.
As part of the deal, agreed upon in November 2008, shareholders of Unibanco received one common share in Itaú Holding for every 1.1797 Unibanco ordinary share and one Itaú Holding share for every 3.4782 Unibanco preferred shares they hold. Rothschild advised and gave a fairness opinion to Unibanco while Morgan Stanley offered a fairness opinion on the merger for Itaú.
"We are not targeting any specific country, but clearly Mexico, Colombia, Peru are attractive," says Itaú Unibanco president Roberto Setubal, asked which new Latin American markets the bank is e
The merger of Itaú and Unibanco created Brazil’s largest bank by equity, assets and loan portfolio, and the eleventh largest in the world by market cap.