Dow Jones reported that the German bank acquired a 49.1% stake of the total capital, giving the group around 10% of the voting capital in Unibanco Participacoes Societarias (UPS) for approximately $494 million in cash.
According to Bloomberg, citing a banking analyst, the acquisition will help the Brazil-based company expand credit and improve its solvency ratios. Dow Jones also reported that the transaction would increase UPS’s operational capacity by $495 million.
The participating Deutsche Bank unit has not been revealed.
