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Brazil: Santander bank to acquire card processor firm

By  |  April 7, 2014

The Brazilian unit of Spain’s largest lender Santander has reportedly inked a deal to acquire card processing firm Getnet Tecnologia in a $490 million deal.

Getnet and Santander Brasil launched a joint venture, SGS, which will acquire the card processing operation, the companies said. The transaction remains subject to approval by Brazil’s antitrust regulator CADE, as well as Brazil’s central bank.

The deal follows top Latin America bank Itau Unibanco’s earlier acquisition of the rest of the 50 percent share of card processor Redecard it did not already own.

Full Content: Businessweek

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