Edenred: partnership with Itaú Unibanco in Brazil

(CercleFinance.com) - Edenred has announced that it has joined forces with Itaú Unibanco, Brazil's largest privately-owned Bank.


As part of an exclusive partnership, Itaú Unibanco will distribute Edenred local Employee Benefits solutions.

Itaú Unibanco will also take a minority share of 11% in Ticket Serviços, Edenred's Brazilian subsidiary dedicated to employee benefits, known under the Ticket brand, and will have the option to gradually increase this stake.

Itaú Unibanco will receive commissions for the acquisition of new customers via its banking network. The operation will have an accretive impact on Edenred's Ebitda from the first year after closing. It remains subject to approval by the competent authorities.


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