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Brazil’s Itau Unibanco buys stake in agribusiness marketplace Orbia -Breaking

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© Reuters. FILE PHOTO – A man can be seen in the Itau branch window at Rio de Janeiro (Brasil), April 29, 2019. REUTERS/Sergio Moraes

(Reuters] – Brazilian lender Itau Unibanco has announced that Monday’s deal will see it acquire a 12.82% interest in Orbia, the agribusiness platform. Orbia was formerly known as Rede Agro Fidelidade e Intermediacao.

The bank stated in its Securities Filing that Orbia was of which Bayer AG (ETR) and Yara Brazil Fertilizantes also own shares. This digital platform, which provides services to rural producers, allows Itau to offer credit solutions for Orbia’s customers “more efficiently.”

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