(Reuters) – Itau Unibanco, a Brazilian bank, announced Friday that it had acquired a 11.36% share in brokerage XP (NASDAQ) Inc worth around 8 billion reais (1.61 billion).

According to a Securities filing, the lender stated that the deal will not affect XP’s governance or have any effect on 2022 results.

Itau was approved by Brazil’s central bank in November to purchase the stake.

($1 = 4.9721 reais)