Brazil: Economic administrative council approves sale of Itau's insurance unit to ACE

Brazil's Administrative Council for Economic Defense has granted approval for ACE Ltd.'s move to acquire Brazilian bank Itau Unibanco Holding S.A.'s insurance unit, Administradores.com.br reported citing Reuters Brazil.

The two companies told the council, a Brazilian government agency, that the deal involves several insurance units, including property, liability and aviation.

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