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Itaú completes acquisition of BTG Pactual's Recovery

Itaú Unibanco HoldingSA said March 31 that it completedits planned acquisitionof BTG Pactual Group'sdebt collection firm Recovery do Brasil Consultoria SA.

In a securities filing, the bank said that it purchased an 89.08%stake in the company, where 81.94% of that was acquired from BTG Pactual and 7.14%from other shareholders.

Itaú also acquired about 70% of a 38 billion Brazilian reaisportfolio in receivables from BTG Pactual.

The acquisition is not expected to have a significant impacton Itaú's financial results, the bank noted in the filing.

As of March 30, US$1 wasequivalent to 3.60 Brazilian reais.