trending Market Intelligence /marketintelligence/en/news-insights/trending/7XpbUym5PUCzpU2zRTm00A2 content esgSubNav
In This List

Report: 4 Brazilian firms interested in bidding for Guide Investimentos

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A


Report: 4 Brazilian firms interested in bidding for Guide Investimentos

A group of four Brazilian investment brokerage firms linked to XP Investimentos SA is interested in making a bid for Guide Investimentos SA Corretora de Valores, Valor Econômico reported, citing a source.

The group, whose worth is more than 25 billion Brazilian reais, is made up of Acqua, EQI Investimentos, Messem and Monte Bravo. They are mainly interested in Guide's client portfolio and its asset management structure.

Buying Guide Investimentos would be a growth opportunity for the four entities, and does not represent an intention to compete with XP, the source noted.

China's Fosun International Ltd., which controls Guide Investimentos, was recently reported to be considering selling part of its stake in Guide Investimentos and asset manager Rio Bravo Investimentos Ltda., or completely divest its stakes in both. Fosun denied any plans to fully exit both companies, but said it is "looking for new investors to bolster its businesses in Brazil."

The Chinese conglomerate acquired a 69.14% stake in Guide Investimentos in 2018.

As of Jan. 16, US$1 was equivalent to 4.18 Brazilian reais.