Banco BTG Pactual S.A. completed the acquisition of Grupo Universa.
December 30, 2021
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Banco BTG Pactual S.A. (BOVESPA:BPAC3) signed an agreement to acquire Grupo Universa for BRL 690 million on May 31, 2021. Under the terms of consideration, BRL 440 million in cash and BRL 250 million will be in BPAC11 units, both upon conclusion of the transaction. Furthermore, BTG will pay a contingent payment on the reaching of certain operational and financial milestones. Universa companies will continue to operate separately from BTG Pactual, maintaining the editorial independence of news sites and the independence to create and launch new products. The closing of the transaction is subject to compliance with certain conditions precedent, including approval by the Central Bank of Brazil and the Brazilian Antitrust Authorities. In December, 2021 all the necessary regulatory approvals were taken. Felipe Miranda, Caio Mesquita and Rodolfo Amstalden, founding partners of Empiricus, and George Wachsmann, CIO of Vitreo, will remain in charge of the operation and will also join BTG Pactual's corporate structure when the operation is completed. Marcelo Lamy Rego, Carolina Cardoso Ramalho and Rafael Vianello of Pinheiro Guimarães Advogados acted as legal counsel to BTG and Bruno Balduccini, José Luiz Homem de Mello and Leonardo Baptista Rodrigues Cruz of Pinheiro Neto Advogados as legal counsel to Universa Group. Carlos Mello, Gustavo Lian Haddad, André Mileski, Kenneth Ferreira, Pedro Maciel of Lefosse Advogados acted as legal advisors to Vitreo Group and Sergio Spinelli, Hiram Pagano, Fernanda Cardoso of Spinelli Advogados acted as legal advisors to Empiricus on the deal.
Banco BTG Pactual S.A. (BOVESPA:BPAC3) completed the acquisition of Grupo Universa in December, 2021.
Banco BTG Pactual SA is a Brazil-based bank primarily engaged in the investment banking and investment management activities. Together with its subsidiaries, the Bank offers a range of financial services, including investment banking, corporate lending, brokerage and clearing services, asset management, wealth management, commercial and consumer banking services, merchant banking and real estate investments. Through the platform BTG Pactual digital, the Bank facilitates online retail investments. It also provides property and casualty insurance and reinsurance services. The bank has a number of subsidiaries in Brazil and abroad, with present in many Latin American countries, the United States, the United Kingdom, Luxembourg and Hong Kong.