Brazil's Itau Unibanco to merge Chile unit with CorpBanca

Wed Jan 29, 2014 6:50am EST
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SAO PAULO Jan 29 (Reuters) - Brazilian lender Itau Unibanco SA on Wednesday announced an agreement to merge its Chilean unit with Chile's CorpBanca, according to a securities filing.

Itau Chile will undergo a $652 million capital increase, the filing added, and Itau Unibanco will control the merged bank, known as Itau CorpBanca.