Azimut Group acquires majority stake in Brazil’s Unifinance Group, expanding presence in wealth management market. Deal executed through share swap with earn-out structure tied to growth targets. Financial terms undisclosed. Acquisition aligns with Azimut’s strategy of growth in strategic markets. Unifinance holds 4.1bn reais ($764.2m) in assets under advisory and management.

Deal contingent on standard closing conditions and regulatory clearances. Integration work to begin with focus on client continuity, key professional retention, and commercial initiatives acceleration. Azimut’s acquisition of Unifinance follows previous deal with Knox Capital for UHNW clients. Azimut to manage approximately R$ 60 billion (over € 9 billion) in Brazil, highlighting commitment to long-term growth in the country.

Azimut Holding CEO Giorgio Medda states acquisition of Unifinance and previous agreement for Knox Capital deepen presence in fast-growing Brazilian market. Move aligns with Elevate 2030 strategic plan and goal to scale in high-potential markets. Azimut confirms role as third-largest market globally with approximately R$ 60 billion under management in Brazil.

Read more at Yahoo Finance: Azimut to take majority stake in Brazilian wealth manager Unifinance