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ITAÚSA - INVESTIMENTOS ITAÚ SA

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Brazil's Itausa mulls investments in agribusiness, renewable energy

08/10/2021 | 02:17pm EDT

SAO PAULO, Aug 10 (Reuters) - Brazilian investment holding Itaúsa, main shareholder in Itau Unibanco Holding SA is open to expanding its investment portfolio to renewable energy and agribusiness companies, Chief Executive Alfredo Setubal said.

The CEO told a press conference Itausa is considering investing in utilities other than water and sewage. Itausa is one of investors in Aegea, which recently acquired two of the four regions of Rio de Janeiro's water and sewage service in a privatization auction.

Itausa has invested 2.6 billion reais ($500 million) in Aegea.

Setubal expects a shareholder vote on the incorporation by digital broker XP Inc. of holding company XP Part. "XP is not an strategic asset to Itausa, but that does not mean we want to sell the stake," Setubal said.

He added that even if Itausa decides to divest, it will not be in an "abrupt matter."

($1 = 5.2031 reais) (Reporting by Aluísio Alves; Editing by David Gregorio)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ITAÚ UNIBANCO HOLDING S.A. -3.84% 23.54 End-of-day quote.-25.58%
ITAÚSA - INVESTIMENTOS ITAÚ SA -2.86% 10.53 End-of-day quote.-10.23%
XP INC. -1.15% 33.64 Delayed Quote.-15.20%
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Financials
Sales 2021 10 166 M 1 800 M 1 800 M
Net income 2021 9 438 M 1 671 M 1 671 M
Net Debt 2021 - - -
P/E ratio 2021 9,40x
Yield 2021 3,92%
Capitalization 88 508 M 15 403 M 15 670 M
Capi. / Sales 2021 8,71x
Capi. / Sales 2022 7,53x
Nbr of Employees -
Free-Float 55,5%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 10,53 BRL
Average target price 14,04 BRL
Spread / Average Target 33,4%
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Managers and Directors
Alfredo Egydio Setubal Vice Chairman & Chief Executive Officer
Henri Penchas Non-Executive Chairman
Paulo Setubal Neto Non-Executive Director
Rodolfo Villela Marino Director & Vice President
Ana Lúcia de Mattos Barretto Villela Vice Chairman
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