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SoftBank buys 8.1% stake in Brazil's Banco Inter

Japan's SoftBank Group Corp. has picked up an 8.1% stake in Banco Inter SA, the Brazilian digital bank, for about 760 million reais, according to an Aug. 6 filing.

SoftBank acquired 19 million units in Banco Inter in July through LA BI Holdco LLC, a Miami-based investment company.

The stake position comes after Banco Inter raised about 1.25 billion reais through a share offering in which it priced its units at 39.99 reais apiece. At the time, reports claimed that SoftBank had heavily participated in the offering.

According to Banco Inter's statement, LA BI Holdco acquired the stake as "strictly a long-term investment, and is not intended to alter the shareholding control or administrative structure of the bank."

As of Aug. 5, US$1 was equivalent to 3.94 Brazilian reais.