Mergers & Acquisitions ·
Banco Inter agrees to acquire remaining 39.75% stake in Inter Seguros for R$409M
INTRInter & Co, Inc.
Banco Inter, an indirect subsidiary of Inter & Co, has entered into a Share Purchase Agreement to acquire the remaining 39.75% interest in Inter Digital Corretora e Consultoria em Seguros S.A. (Inter Seguros) from Wiz Co Participações e Corretagem de Seguros S.A. for R$409,487,500. The purchase price is subject to adjustment based on the CDI rate and payable at closing. The transaction requires approval from Brazil's Central Bank and Administrative Council for Economic Defense (CADE). Upon completion, Banco Inter will become the sole shareholder of Inter Seguros, which serves over 9 million active contracts integrated into the company's Super App. This move aims to accelerate product innovation and capture more value from the insurance segment. Inter & Co operates as a digital banking and financial services provider in Brazil.