Banco Safra announces purchase of Guide Investimentos

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The brokerage has around R$20 billion in assets under custody, according to a statement. The value of the operation was not disclosed. Facade of Banco Safra Disclosure Banco Safra announced on Tuesday night (6) the purchase of the brokerage Guide Investimentos, controlled by Fosun. The value of the operation was not disclosed. Guide is a platform that operates in investment advisory, wealth management, institutional brokerage and asset management. According to Safra, the objective with the acquisition is “to accelerate Guide’s growth in all areas of activity, contributing capital, expertise and further expanding the offer of products and services to customers”. According to the statement released this Tuesday, Guide has around R$20 billion in assets under custody. Completion of the transaction is subject to regulatory approvals. Safra reported that it received financial and legal advice from Banco J. Safra and the offices of Spinelli Advogados and Vieira Rezende Advogados. Fosun was advised by Pinheiro Neto Advogados.

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