Inter & Co unit to buy 39.75% of Inter Seguros
If the transaction closes, Banco Inter will become the sole shareholder of an insurance business serving more than 9 million active contracts.
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Rhea-AI Filing Summary
Inter & Co, Inc. (INTR) announced that its indirect subsidiary Banco Inter S.A. entered into a Share Purchase Agreement to acquire from Wiz Co Participações e Corretagem de Seguros S.A. common shares representing 39.75% of Inter Seguros’ issued shares for R$409,487,500.00. The purchase price is subject to adjustment based on the CDI rate and is payable at closing.
Closing is subject to satisfaction of conditions precedent, including approval by the Central Bank of Brazil and the Brazilian Administrative Council for Economic Defense (CADE). Upon completion, Banco Inter will become Inter Seguros’ sole shareholder. Inter & Co says full ownership will provide Banco Inter more speed to innovate and launch products and increase its ability to capture value generated by the business. Inter Seguros is fully integrated into the Inter Super App and serves more than 9 million active contracts.
Key Figures
Key Terms
CDI rate financial
conditions precedent technical
Brazilian Administrative Council for Economic Defense (CADE) regulatory
FAQ
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How much will Banco Inter pay for its Inter Seguros stake?
What approvals are required for Banco Inter’s Inter Seguros acquisition?
What will happen to Inter Seguros’ ownership if the transaction closes?
AI-generated analysis. How Rhea-AI works. Not financial advice.