The deal will include acquiring stakes from controlling family members of the bank, unnamed sources said, adding that Banco Inter CEO Joao Vitor Menin, who owns 5.4 percent, isn’t among the sellers.
In July, SoftBank bought an 8.1 percent stake in Banco Inter valued at around $186 million.
Banco Inter aside, Tokyo-based SoftBank has been in the midst of an ongoing buying spree in Latin America with about 300 targets in the region. SoftBank launched a fund in March to back tech firms in the region and has already spent more than $1 billion of its $5 billion of capital.
