BRASILIA (dpa-AFX) - XP Inc. (XP), a provider of low-fee financial products and services in Brazil said it agreed with Direcional Engenharia, a Brazilian developer and builder to acquire 49.9 percent stake in the real estate financing startup Direto.
Financial terms of the deal have not been disclosed.
The latest deal is expected to support XP to expand its operations in the real estate segment, in which it is already one of the references in the structuring and distribution of Certificates of Real Estate Receivables (CRI) and Real Estate Investment Trusts (REIT), and in the securitization market, the company said in a statement.
The acquisition also allows Direto to rely on XP's distribution structure, tech platform, and funding solutions.
Meanwhile, the management of Direto will remain independent from its shareholders, with its own team in São Paulo and Belo Horizonte.
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