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Itaú Unibanco Invests R$ 200 Million in Dexco’s Forestry SPE

Written by Sara Aquino
Published on 12/01/2026 at 14:23
Itaú Unibanco anuncia investimento de R$ 200 milhões em Sociedade de Propósito Específico da Dexco voltada ao setor florestal.
Foto: IA
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Itaú Unibanco Announces Investment of R$ 200 Million in Special Purpose Company of Dexco Focused on the Forestry Sector.

Dexco, one of the largest companies in the construction materials and industrial solutions sector in Brazil, announced that its indirect subsidiary Jatobá Florestal will receive a R$ 200 million investment from Itaú Unibanco.

The operation was communicated to the market this week and reinforces the company’s strategy to expand its presence in sustainable forestry assets while attracting long-term institutional capital.

The contribution will be fully made by Itaú Unibanco, which will hold 100% of the preferred shares of the SPE.

This initiative comes at a time of increasing appreciation of assets linked to the green economy, especially those related to responsible forestry exploration and the leasing of productive areas.

Investment of R$ 200 Million Strengthens Dexco’s Strategy

The R$ 200 million investment represents a significant step in Dexco’s financial and operational strategy.

The company has been adopting a business model that combines industrial efficiency, sustainability, and capital discipline.

In this context, the entry of a large institutional investor reinforces market confidence in the solidity of the forestry project.

Additionally, the operation allows Dexco to unlock value from its forestry assets without compromising the strategic control of the business.

By structuring the operation through a Special Purpose Company, the company separates the risks and results of forestry activities, which increases transparency and attractiveness for investors.

Role of Itaú Unibanco in the New Special Purpose Company

According to an official announcement, Itaú Unibanco will be the sole holder of the preferred shares of the SPE created under Dexco.

The financial institution will have economic participation in the project, while operational management remains aligned with the industrial group’s strategy.

“Itaú Unibanco will hold 100% of the preferred shares to be issued by the SPE, whose activity includes operations related to the exploration and commercialization of forestry assets and leasing,” the bank stated in its announcement to the market.

This format is common in large-scale projects, as it allows the investor to have return predictability, while the operational company focuses on execution and development of the asset.

Forestry Sector Gains Prominence in Corporate Strategy

The forestry sector has become one of the most strategic fronts for Dexco.

The company uses planted forests, especially pine and eucalyptus, as a base for its industrial operations, ensuring renewable raw material and reducing exposure to market fluctuations.

Furthermore, the forestry segment offers additional monetization opportunities, such as leasing areas, selling environmental credits, and marketing certified timber.

Therefore, the investment from Itaú Unibanco arrives at an opportune moment, enhancing the expansion capacity of Jatobá Florestal.

Meanwhile, the market observes a growing demand for assets aligned with environmental, social, and governance (ESG) criteria.

Why the Special Purpose Company is Strategic

The creation of a Special Purpose Company allows Dexco to isolate the forestry operation in a dedicated structure.

This way, the company can raise funds without significantly increasing its consolidated debt.

Moreover, the SPE facilitates future operations, such as new contributions, sale of stakes, or even a potential public offering of the forestry arm.

On the other hand, Itaú Unibanco ensures direct exposure to a real asset, with potential for recurring revenue generation and lower volatility.

Impacts for the Market and Dexco

From a market perspective, the operation signals confidence in Dexco’s business model and the attractiveness of the Brazilian forestry sector.

For the company, the R$ 200 million investment strengthens its cash position, expands investment capacity, and reinforces its sustainable growth strategy.

Thus, the partnership with Itaú Unibanco consolidates an increasingly common movement among large industrial companies: the search for smart capital.

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Sara Aquino

Farmacêutica e Redatora. Escrevo sobre Empregos, Geopolítica, Economia, Ciência, Tecnologia e Energia.

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