SAO PAULO, Brazil, Nov. 13 /PRNewswire/ -- Itausa - Investimentos
Itau S.A. ("Itausa"), Banco Itau Holding Financeira S.A. (NYSE:ITU)
("Itau Holding"), Unibanco Holdings S.A. ("Unibanco Holdings") and
Unibanco - Uniao de Bancos Brasileiros S.A. ("Unibanco"), in
compliance with paragraph 4 of Article 157 of Federal Statute
6404/76 and with Rules 358/2002 and 319/1999 of the Brazilian
Securities and Exchange Commission ("CVM"), and in addition to the
press release of November 3rd, 2008, hereby inform the following:
1. The transaction With the purpose of merging the financial
operations of Itau Holding and Unibanco, as per the terms of the
press release of November 3rd, 2008, and in the scope of the
corporate restructuring of both groups, the following transactions
will be submitted for the approval of the shareholders of Itau
Holding, Banco Itau S.A. ("Banco Itau"), E.Johnston Representacao e
Participacoes S.A. - the controlling shareholder of Unibanco
Holdings ("E.Johnston"), Unibanco Holdings and Unibanco, at
extraordinary shareholder meetings to be held on November 28th,
2008: (i) the merger of all shares(1) of E.Johnston into Banco
Itau; (ii) the merger into Banco Itau of all shares of Unibanco
Holdings that are not indirectly held by it; (iii) the merger into
Banco Itau of all shares of Unibanco that are not indirectly held
by it; and (iv) the merger of all shares of Banco Itau into Itau
Holding, whose corporate name will be changed to Itau Unibanco
Banco Multiplo S.A. 2. Purposes The purpose of the corporate
restructuring described herein is to guarantee a union of efforts
and resources to create a Brazilian financial institution of
international proportions, with strong leadership in the Brazilian
banking system and with a prominent position in foreign financial
and capital markets, resulting in the improvement of both
administrative and operational efficiencies. With the closing of
the restructuring, we expect that Itau Unibanco Banco Multiplo S.A.
will be prepared to: (1) Merger of shares to be used, in the scope
of this announcement, as meaning "incorporacao de acoes", as per
Article 252 of Federal Statute 6404/76. (i) strengthen its support
to Brazilian companies in their national and international
operations; (ii) expand its business in Brazil and compete in the
international market; (iii) support the growth of credit
transactions of both financial institutions' clients; (iv)
substantially increase in synergies in all client segments. In
addition, one of the main competitive advantages of both Itau
Holding and Unibanco is the internal segmentation of the
businesses, which allow them to better identify the needs of each
class of clients, to create specific designed products and services
and to optimize the use of each segment's potential, offering a
wide range of services and products to a diversified base of
individuals and corporate clients. The merger of both companies
into Itau Unibanco Banco Multiplo S.A. will enable the expansion of
this segmentation culture. In this sense, both economic groups want
to unify Itau Holding and Unibanco into a single economic
conglomerate. In order to do that, the best corporate restructuring
strategy consists in (i) all of the shares issued by Unibanco being
held, directly or indirectly, by Banco Itau, which is the largest
operating company of the new economic conglomerate to be created
and the company that will generate the most significant synergies
in the businesses of both economic groups, and (ii) Itau Unibanco
Banco Multiplo S.A. being the only publicly-listed financial
institution of the economic conglomerate, in order to guarantee
more liquidity and transparency in the trading of the shares of the
economic conglomerate. 3. Summary of the Transaction's Structure
The mergers of the shares are steps of the corporate restructuring,
which has as its purpose to integrate Itau Holding and Unibanco's
activities, and the merger of the shares will be effected as
described in item 1 above. In order to define the structure for the
merger of the shares issued by E.Johnston, Unibanco Holdings, and
Unibanco into Banco Itau and, subsequently, into Itau Holding, the
parties took into consideration the following facts: (i) E.Johnston
holds 525,398,072 common shares issued by Unibanco Holdings and
378,434 common shares issued by Unibanco; (ii) Unibanco Holdings
holds 1,467,184,984 common shares and 127,743,681 preferred shares
issued by Unibanco; (iii) at the moment of the merger of Unibanco
Holdings's shares, Banco Itau will be, as a result of the prior
merger of E.Johnston's shares into Banco Itau, the indirect holder
of the 525,398,072 common shares issued by Unibanco Holdings; (iv)
at the moment of the merger of the shares of Unibanco, Banco Itau
will be (a) by virtue of the prior merger of the shares of
E.Johnston, the indirect holder of 378,434 common shares issued by
Unibanco and (b) by virtue of the prior merger of the shares of
Unibanco Holdings, the indirect holder of 378,434 common shares
issued by Unibanco and 1,467,184,984 common shares issued by
Unibanco and 127,743,681 preferred shares issued by Unibanco; and
(v) only the shares of Unibanco and Unibanco Holdings that are not
indirectly held by Banco Itau at the moment of the merger of the
shares will be merged into Banco Itau. The chart below sets forth
the current share ownership structure and the share ownership
structure that will result from this transaction: (Photo:
http://www.newscom.com/cgi-bin/prnh/20081113/CLTH044 ) 4. Corporate
documents and negotiations that preceded the Transaction As
informed in the material fact of November 3rd, 2008, the
controlling shareholders of Itausa and E.Johnston executed, on that
same day, a joint venture agreement aiming to merge the operations
of Banco Itau and Unibanco. In addition, before the implementation
of the expected corporate restructuring, Itausa shall transfer to
Banco Itau all the shares that it holds in Itausa Europa
Investimentos SGPS Lda. and Itausa Export S.A. ("Export"),
companies that hold all of Banco Itau Europa S.A.'s shares, for
approximately R$ 1,137 million, being R$ 587 million in cash and R$
550 million by means of the merger of Export shares into Banco
Itau, with the issuance of 20,954,935 common shares. Furthermore,
as a preliminary step to the merger of the shares, on November
12th, 2008 the management of the companies involved in the
corporate restructuring approved the respective protocols and
justifications of the mergers of the shares and the publishing of a
call notice for the shareholders meetings to decide upon such
matters. Those protocols and justifications of the mergers of
shares were signed by the management of such companies in the same
date. On November 12th, 2008, a shareholders' meeting of Banco Itau
was held at which was resolved (i) the creation of a class of
preferred shares to afford the delivery of such class of shares to
Unibanco and Unibanco Holdings shareholders in view of the
corporate restructuring, (ii) a share split, so as to mitigate the
issuance of share fractions in the merger of Unibanco and Unibanco
Holdings shares and to allow a greater number of shareholders to be
able to migrate their equity stake to Itau Holding, (iii) the
increase of the maximum number of members that can compose the
board of officers, and (iv) the election of some of the current
members of Unibanco's board of officers to the board of officers of
Banco Itau, so as to make the transition process smoother. In the
same way and also on November 12th, 2008, Unibanco's board of
directors elected some of Banco Itau's current officers to compose
its board of officers, for the same purpose. Finally, it should be
mentioned that Unibanco, Unibanco Holdings and Itau Holding
shareholders� meetings, to be held on November 28th, 2008, shall
decide, at a moment that shall immediately precede the decision on
the merger of the shares, on the following matters: (a) Unibanco:
(i) the re-ratification of the shareholders' meeting held on July
16th, 2008, in which the capitalization of the amounts that were
registered in the statutory reserve intended to ensure that the
company maintains an adequate operational margin, in the amount of
R$3,000,000,000.00 (three billion Reais), increasing the share
capital from R$8,000,000,000.00 (eight billion of Reais) to
R$11,000,000,000.00 (eleven billion of Reais), so as to have the
capital increase effected without the issuance of shares, as per
the provision of paragraph 1 of Article 169 of Federal Statute
6404/76, being the stock dividends thereby cancelled; (ii) the
cancellation of the entirety of the shares held in treasury; (iii)
in view of such deliberations, the amendment of Article 4 of
Unibanco's By-laws; (iv) the increase of the maximum number of
members that can compose the board of directors and the audit
committee, and (v) the election of new members to such corporate
bodies; (b) Unibanco Holdings: (i) the re-ratification of the
annual meeting held on July 16th, 2008, in which was approved the
capitalization of R$1,467,785,893.05 (one billion, four hundred
sixty-seven million, seven hundred eight-five thousand, eight
hundred ninety-three Reais, and five cents) registered in the
reserve for unrealized profits and R$276,724,106.95 (two hundred
seventy-six million, seven hundred twenty-four thousand, one
hundred and six Reais, and ninety-five cents) registered in the
reserve for unrealized profits, so as to have the capital increase
effected without the issuance of shares, as per the provision of
paragraph 1 of Article 169 of Federal Statute 6404/76, (ii) the
cancellation of the entirety of the shares held in treasury and
(iii) in view of such decisions, the amendment of Article 5 of
Unibanco Holdings's By-laws; and (c) Itau Holding: (i) the
cancellation of 10,000,000 (ten million) preferred shares held in
treasury, and (ii) the increase of authorized capital. 5. Criteria
for the Valuation of shares A. Merger of E.Johnston, Unibanco
Holdings and Unibanco's shares into Banco Itau Provided that (i)
E.Johnston's assets are constituted almost exclusively of shares
representing Unibanco Holdings and Unibanco's capital and (ii)
Unibanco Holdings assets are, in turn, constituted almost
exclusively of shares of Unibanco, we may conclude that the
aggregate value of E.Johnston, Unibanco Holdings and Unibanco's
assets, not considering the effects of the double accounting of its
net value, is substantially equivalent to Unibanco's value.
Therefore, taking into account that the merger of the shares of
E.Johnston, Unibanco Holdings and Unibanco will cause an increase
in Banco Itau's net value equivalent to Unibanco's value, and, as a
consequence, that the value of the shares of the three companies,
which shall be merged into Banco Itau, are equivalent to Unibanco's
value, the three merger of shares transactions will be effected
based on Unibanco's value, which shall be based on its economic
value as of September 30th, 2008. Hirashima & Associados
Consultoria em Transacoes e Reestruturacoes Societarias Ltda.
("Hirashima") performed a valuation of Unibanco's economic value,
which, together with previous analysis prepared by N M Rothschild
& Sons (Brasil) Ltda. ("Rothschild") and Morgan Stanley Dean
Witter ("Morgan Stanley"), concluded that the economic value of
Unibanco as of September 30th, 2008 was R$29,4 billion, and that
such value was fair for the purposes of the transaction. The
appointment of Hirashima shall be ratified by the shareholders at
the extraordinary shareholders' meeting to be held on November
28th, 2008. B. Merger of Banco Itau shares into Itau Holding or the
purposes of this merger, the shares to be merged will be evaluated
by their book value, which will be determined by
PricewaterhouseCoopers Auditores Independentes based on the
respective book values as of September 30th, 2008, adjusted for
subsequent events, including, but not limited to, the merger of the
shares of Export, E.Johnston, Unibanco Holdings and Unibanco. 6.
Exchange ratio of shares, number of the type of shares to be
distributed to the shareholders The exchange ratios were
established according to the purposes of the structure, explained
in item 2 above, and considered the following premises: (i) all of
the shares issued by Unibanco will be held, directly or indirectly
by Banco Itau, the largest operating company in the new economic
conglomerate, which should generate significant synergies in the
businesses of both economic groups, and (ii) Itau Unibanco Banco
Multiplo S.A. will be the only publicly- listed financial
institution of the economic conglomerate, in order to guarantee
more liquidity and transparency in the trading of the shares of the
economic conglomerate. Therefore, because the transactions
described in item 1 of this document correspond to steps of the
same transaction, which aims to reach such goals, the exchange
ratios agreed upon are based on the transaction as a whole. In this
sense, the following criteria were adopted to establish the
exchange ratios: (a) the calculation of the exchange ratios of the
common shares was established according to the negotiation between
the controlling shareholders of Unibanco and of Itau Holding, and
were considered equitable by them. This exchange rate was extended
to the other holders of common shares of the companies that will
have their shares merged; (b) considering that the preferred shares
of Unibanco and of Unibanco Holdings trade with large liquidity,
mainly through the Units (share certificates representing one
preferred share of Unibanco and one preferred share of Unibanco
Holdings), the calculation of the exchange ratio was based on the
market average price of the Units in the last 45 sessions of the
Brazilian Stock Exchange - Bovespa before November 3rd, 2008, in
order to avoid timing distortions; and (c) considering that the
preferred shares of Itau Holding trade with large liquidity, the
calculation of the exchange ratio was based on the market average
price of the preferred shares of Itau Holding in the last 45
sessions of the Brazilian Stock Exchange - Bovespa, with the same
purpose. All the exchange ratios were considered fair and equitable
by the management of the companies involved in the corporate
restructuring, including by the respective independent members of
the boards of directors. The calculation of the exchange ratios for
the preferred shares was ratified by Trevisan Auditores e
Consultores Ltda. ("Trevisan"), which considered that the exchange
ratios as established were in compliance with an objective criteria
and issued its opinion that a period of 45 sessions is
representative for the establishment of the price of the preferred
shares and appropriate for the establishment of the exchange ratio.
The following table contains a summary of the exchange ratios,
establishing the number of shares of Itau Holding that will be
distributed to the shareholders of Unibanco and of Unibanco
Holdings. NUMBERS OF SHARES OF UNIBANCO AND OF UNIBANCO HOLDINGS TO
BE EXCHANGED FOR EACH SHARE OF ITAU HOLDING Exchange Ratio
(necessary number of shares to entitle holders to receive Security
one share of Itau Holding) ON UNIBANCO (UBBR3) 1.1797=1 common
share ON UNIBANCO HOLDINGS (UBHD3) 1.1797=1 common share UNIT
(UBBR11) 1.7391=1 preferred share PN UNIBANCO (UBBR4) 3.4782=1
preferred share PN UNIBANCO HOLDINGS(UBHD6) 3.4782=1 preferred
share GDRs (UBB) 0.17391=1 preferred share Based on the established
exchanges ratios, the valuation attributed for Unibanco in the
transaction is R$ 29.4 billion, corresponding to 2.3 times its book
value. The Unibanco and Unibanco Holdings' boards of directors
hired Rothschild and the Itau Holding and Itausa's board of
directors hired Morgan Stanley to issue their opinions about the
value attributed for Unibanco in the transaction, being such
considered as fair by both institutions. Hirashima was the
specialist firm hired to issue the valuation report for the
purposes of Articles 8 and 252 of Federal Statute 6404/76. The
issuance of preferred and common shares will total 1,121,033,136
(one billion, one hundred and twenty-one million, thirty-three
thousand and one hundred and thirty-six) shares, which will be
equivalent to 27% of the total amount of Itau Holding's shares
after the restructuring. The securities to be delivered to the
shareholders in exchange for the securities held by them will be
distributed with the same transfer restrictions and for the
original term of such restrictions, as provided in the agreements
that establish such restrictions. Fractional shares of Itau Holding
will be sold on the stock exchange and the proceeds will be
proportionately divided among the holders of the fractions. The
shares of Itau Holding, which will be distributed to Unibanco and
Unibanco Holdings' shareholder in exchange for their shares, will
confer to their holders the same rights as the rights conferred to
the outstanding shares of Itau Holding and all shares will be
entitled to all benefits, including dividends and interest on
capital stock that shall be declared by Itau Holding after the
shareholders meetings which will vote to approve the merger. 7.
Table comparing the political and patrimonial advantages of
Unibanco, Unibanco Holdings and Itau Holding shares The following
table shows the differences between the political and patrimonial
advantages of the shares of Unibanco and of Unibanco Holdings as
compared to the shares of Itau Holding that the shareholders of
Unibanco and Unibanco Holdings will receive as a result of the
effectiveness of the transaction described herein. Unibanco
Unibanco Holdings Banco Itau Holding Preferred shares are Preferred
shares are Preferred shares are entitled to annual entitled to (i)
entitled to priority in dividends 10% (ten priority in the
receiving the minimum percent) higher distribution of the annual
dividend of than the dividends semi- annual R$ 0.022 per share
distributed to each minimum dividend common share of R$0.15
(fifteen cents) for each lot of twenty (20) shares; or (ii)
semi-annual priority dividends of 1.5% of the equity value of the
share, resulting in an annual priority dividend of 3% (three
percent) of the equity value of the share, whichever is greater
Preferred shares are Preferred shares are Preferred shares are not
entitled to priority entitled to priority entitled to priority in
the reimbursement in the reimbursement in the reimbursement of of
capital in case of capital, in capital in case the the company is
case the company is company is liquidated. liquidated, up to the
liquidated, up to amount represented the amount represented by such
shares in by such shares the capital stock in the capital stock
There is no dispo- There is no disposition Preferred shares have
the sition in the By-laws in the By-laws right - in the granting
Tag Along granting Tag Along event of the sale of a rights. Only
the rights. Only the controlling stake - to terms of the Brazilian
terms of the Brazilian be included in the public corporate Law
(6404/ corporate Law offering to acquire 76) are applicable.
(6.404/76) are shares with a price equal applicable. to 80% (eighty
percent) of the value paid for each share with voting rights and
comprising the controlling stockholding block guaranteeing a
dividend at least equal to that paid on to the common shares ("Tag
Along") Preferred shares are Preferred shares are Dividends at
least equal entitled to entitled to to the dividends of
participate, under the participate, under the the common shares are
same conditions same conditions assured to the of the common
shares, of the common shares, preferred shareholders in capital
increases in capital increases resulting from the resulting from
the capitalization of capitalization of monetary restatements,
monetary restatement, reserves and profits reserves and profits
Preferred shares are Preferred shares are Both types of shares are
entitled to entitled to entitled to annual dividends 10%
participate, under the participate, under the (ten percent) same
conditions same conditions, in higher than the of the common
shares, the distribution of dividends distributed in dividend
profits, provided that to each common share distributions common
shares will receive dividends equal to the minimum non-cumulative
dividends of the preferred shares The mandatory Preferred shares
are The mandatory dividends dividends correspond entitled to
dividends correspond to to 35% (thirty five equivalent to 100% 25%
(twenty five percent) percent) of the (a hundred percent) of the
annual net profit annual net profit of net profit that has been
effected in cash. Such amount is the portion of the net profit that
corresponds to mandatory dividend that were distributed and paid by
Unibanco to the Company 8. Share Capital Increase The merger of the
shares (incorporacao de acoes) of E. Johnston, Unibanco Holdings,
Unibanco and Export, jointly, will result in a capital increase of
Banco Itau in the amount of R$ 29,973,000,000.00 (twenty-nine
billion, nine hundred and seventy-three million Reais), with the
issuance of 527,750,941 (five hundred twenty-seven million, seven
hundred and fifty thousand, nine hundred and forty-one) common
shares and 614,237,130 (six hundred and fourteen million, two
hundred and thirty-seven thousand, one hundred and thirty)
preferred shares, which shall be issued to the current shareholders
of E. Johnston, Unibanco Holdings, Unibanco and Export. The merger
of the shares (incorporacao de acoes) of Banco Itau will result in
a capital increase of Itau Holding in the amount of R$
12,000,000,000.00 (twelve billion Reais), with the issuance of
527,750,941 (five hundred and twenty-seven million, seven hundred
and fifty thousand, nine hundred forty- one) common shares and
614,237,130 (six hundred fourteen million, two hundred and
thirty-seven thousand, one hundred and thirty) preferred shares of
Itau Holding, which will be issued to the current shareholders of
E. Johnston, Unibanco Holdings and Unibanco. 9. Itau Holding share
capital after mergers After the conclusion of the mergers of the
shares (incorporacao de acoes) mentioned above, Itau Holding's
share capital shall be R$ 29,000,000,000.00 (twenty-nine billion
Reais), represented by 4,155,396,563 (four billion, one hundred and
fifty-five million, three hundred and ninety-six thousand, five
hundred and sixty-three) book-entry shares with no par value, being
2,081,169,523 (two billion, eighty-one million, one hundred and
sixty-nine thousand, five hundred and twenty-three) common shares
and 2,074,227,040 (two billion, seventy-four million, two hundred
and twenty-seven thousand, and forty) preferred shares. 10.
Dissident Shareholders Reimbursement As per the provisions of
paragraph one of the article 137 of the Rule 6404/76, the
shareholders which, on October 31, 2008, were the holders of Itau
Holding common shares (ITAU3), Unibanco common shares (UBBR3),
Unibanco Holdings common shares (UBHD3), or Unibanco preferred
shares (UBBR4) not deposited as Units, will have withdrawal rights
guaranteed by the occurrence of the shareholders' meetings that
will be held to approve the corporate reorganization. The
reimbursement values for dissident shareholders, as per the
provisions of Article 45, paragraph one, of Rule 6404/76, which
correspond in Reais to the equity value of respective shares on
December 31, 2007, are the following: Equity Value on Security
12.31.2007 ON Itau Holding ITAU3 R$10.61* ON UH UBHD3 R$4.290332 ON
UBB UBBR3 R$4.236374 PN UH UBHD6 R$4.290332 PN UBB UBBR4 R$4.236374
* Such value, for each share, is already adjusted with the 25%
bonus in shares approved at the General Meeting held on April 23rd,
2008. Dissents must be expressed within thirty (30) days from the
publication of the shareholders' meetings minutes that approve the
merger of the shares (incorporacao de acoes), and shall be
addressed to (i) in the case of Unibanco and Unibanco Holdings
shareholders, to the Shareholders' department, located at Avenida
Paulista, 1337, 20th floor - cj. 202, Sao Paulo (Sao Paulo),
Brazil, CEP 01311-200, and (ii) in the case of Itau Holding
shareholders, to the "Gerencia de Relacionamento com Empresas"
department, located at Praca Alfredo Egydio de Souza Aranha n 100,
Torre Eudoro Villela, 9th floor, orange area, Sao Paulo, Brazil,
CEP 04344-902. All the correspondences expressing dissent should be
sent with notarized signatures and should indicate the bank, branch
and account to which the credit of the reimbursement value should
be deposited. 11. Costs The companies' managements estimate that
the costs of the transaction will be approximately R$ 25,000,000.00
(twenty-five million Reais), including expenses for printing,
auditors, valuation experts, financial advisors, legal advisors and
other technical professionals hired to advise the parties with
respect to the transaction. 12. Effects triggered by the
transaction Net worth. The net worth of Itau Unibanco Banco
Multiplo S.A. will be approximately R$ 51.7 billion, making it the
Brazilian financial institution with the largest capital base (as
of September 30, 2008). If the new company had been created in the
third quarter of 2008, the Basel Index would have been 15.1%,
taking into account fiscal effects. Accounting and Fiscal Effects:
Considering the capital increase related to the merger of the
shares (incorporacao de acoes), the variation of its equity stake
and its accounting and fiscal effects, we estimate the positive
effects on the results of Itau Unibanco Banco Multiplo S.A. and
Itausa will be in the amount of R$ 8.1 billion and R$ 2.5 billion,
respectively. Contribution to the Result: We expect an increase in
the consolidated net profits per share resulting from the
transaction beginning in the next fiscal year. 13. Other
information Corporate Governance: The Board of Directors of Itau
Unibanco Banco Multiplo S.A. shall be composed of up to fourteen
(14) members, six (6) of them to be jointly appointed by the
controlling shareholders of Itausa and the Moreira Salles Family.
Mr. Pedro Moreira Salles will be the Chairman of the Board of
Directors and Mr. Roberto Egydio Setubal will be the Chief
Executive Officer of Itau Unibanco Banco Multiplo S.A A Transition
Committee was created with the purpose of defining the mechanics
and timetable of the integration of the operations of Unibanco and
Itau Holding. The business and transactions performed with clients,
creditors and suppliers shall not be affected. Negotiation: Between
the date of the extraordinary shareholders' meetings that shall
decide on the restructuring and the date on which the Central Bank
of Brazil shall grant its approval for the joint venture, Itau
Holding, Unibanco Holdings and Unibanco's shares shall trade
normally, under the same current stock tickers, not only on the
Bovespa - Sao Paulo Stock Exchange (preferred and common shares:
ITAU4, ITAU3, UBBR3, UBBR4, UBHD3, UBHD6 and UBBR11), but also on
the New York Stock Exchange (ITU and UBB). The management shall
define the record date for the change of the stock ticker of the
securities, after which they will trade under a new stock ticker.
Dividends / Interest on Capital Stock: The payment of dividends or
interest on capital stock that will be declared after such
shareholders' meetings shall be made by Itau Unibanco Banco
Multiplo S.A. Independence of consultants: As per Article 2, XIV of
Rule N. 319/99 of the Brazilian Securities Commission, the
companies involved declare that they are not aware of any conflict
or union of interests, whether current or potential, with the
consultants that were hired to evaluate the companies' book values,
or even regarding other companies involved in the transaction and
their shareholders, with respect to the transaction. 14. Submission
to Authorities The transaction mentioned herein is subjected to the
approval of the Central Bank of Brazil and also to the approval of
other relevant authorities, Brazilian and non-Brazilian. 15.
Availability of Documents The audited Financial Statements of
September 30th, 2008 E.Johnston, Unibanco Holdings, Unibanco, Banco
Itau and Itau Holding shall be available at the headquarters of the
companies and on their respective websites (www.itausa.com.br;
www.itauri.com.br e www.ri.unibanco.com.br), and also on the
websites of the CVM (www.cvm.gov.br) and of the Bovespa
(www.bovespa.com.br). The merger protocols and justifications [the
merger agreement], the legal opinions that were obtained up to this
date, the evaluation reports and the opinions of the financial
consultants shall be available for review at the headquarters of
the companies. http://www.newscom.com/cgi-bin/prnh/20081113/CLTH044
DATASOURCE: Banco Itau Holding Financeira S.A. CONTACT: Investor
Relations Officers: Roberto Egydio Setubal of Itausa -
Investimentos Itau S.A., or Alfredo Egydio Setubal of Banco Itau
Holding Financeira S.A., or Geraldo Travaglia Filho of Unibanco
Holdings S.A and Uniao de Bancos Brasileiros S.A., all at Web site:
http://www.itau.com/
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