Banco Safra S.A. agreed to acquire unknown stake in Alfa Holdings S.A. (BOVESPA:RPAD3) for BRL 1 billion on November 23, 2022. As of January 9, 2023, the transaction has been approved by the Brazilian antitrust body Cade. Rothschild & Co acted as Financial advisor to Alfa. Safra's investment bank advised the group.

Banco Safra S.A. completed the acquisition of unknown stake in Alfa Holdings S.A. (BOVESPA:RPAD3) on October 11, 2023.