Banco Santander Brasil to Consider Potential Getnet Spin-Off
November 17 2020 - 1:39AM
Dow Jones News
By Mauro Orru
Banco Santander (Brasil) S/A said late Monday that it would
evaluate the potential spin-off of its merchant payment business
Getnet.
The Brazilian subsidiary of Spanish bank Banco Santander SA said
a spin-off would transfer ownership of Getnet to Banco Santander
(Brasil) S/A's shareholders, including Banco Santander which owns
89.51% of Banco Santander (Brasil) S/A.
"The move would support the group's plans to consolidate its
merchant acquiring franchise, further improving the services it
offers customers while creating value for shareholders," Banco
Santander (Brasil) S/A said in a statement.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 17, 2020 01:24 ET (06:24 GMT)
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