November 17, 2016 / 2:46 PM / 3 years ago

Brazil's Itaúsa mulls M&A in non-financial firms, CEO says

SAO PAULO, Nov 17 (Reuters) - Itaúsa Investimentos SA, a family-controlled company that is a major shareholder in Brazil’s No. 1 private-sector bank, is considering adding more non-financial investments in stable and leading sectors that are also good dividend payers, Chief Executive Officer Alfredo Setubal said on Thursday.

In an event in São Paulo, Setubal - himself a member of one of the families controlling Itaúsa - said there are no ongoing plans for a listing of the company’s stock in New York, although it remains a possibility. He ruled out raising fresh capital to make new acquisitions in non-financial industries, which he declined to mention.

Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama

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