By Joshua Kirby 
 

Banco Santander SA said late Tuesday that its merchant-payment business Getnet Brazil will begin trading in Sao Paulo and New York this month after being spun off.

The entity is expected to begin trading on the B3 stock exchange in the Brazilian city on Oct. 18, and on the Nasdaq on Oct. 22.

The spinoff of the formerly wholly-owned subsidiary is part of the Santander's plans to create a global merchant-acquiring franchise under the Getnet brand, the Spanish bank said.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

October 06, 2021 01:24 ET (05:24 GMT)

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