XP’s $9.5 Billion Merger With Itaú Unibanco Holding

Davis Polk advised XP Inc. on the deal.

XP Inc. announced its $9.5 billion merger with Itaú Unibanco Holding S.A. In connection with the consummation of the merger, XPart was merged with and into XP and XPart ceased to exist, providing XPart’s stockholders the opportunity to hold direct interest in XP, by holding either Class A Shares issued by XP or BDRs issued by XP (other XPart’s stockholders).  

Based in São Paulo, Brazil, XP and its subsidiaries is a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. 

Itau Unibanco Holding S.A. attracts deposits and offer retail, commercial, corporate, and private banking services.  

The Davis Polk corporate team included partner Manuel Garciadiaz (Picture), counsel Konstantinos Papadopoulos and associate Hugo Casella. Partner William A. Curran and associates Elina Khodorkovsky and Eitan Ulmer provided tax advice.

Involved fees earner: Hugo Casella – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Elina Khodorkovsky – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Eitan Ulmer – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: XP Inc.;

Author: Alejandro Girola