Itaú Moves into Advertising (Latin America)

Source: Financial Times  |  Author: Joe Leahy

Kinea Investimentos, the alternative investment arm of Brazil’s Banco Itaú, has reportedly invested BRL170 million (approximately US$84 million) for a 20 percent stake in Grupo ABC, a Brazilian advertising, marketing and publicity company. Grupo ABC intends to use the funding to continue its expansion into northeastern Brazil, and to advertise the 2014 World Cup and the 2016 Olympic Games.