CETIP Rallies On Auto Purchase

Dec 3, 2010

Brazil’s CETIP has acquired local auto-finance registration company GRV for BRL2.0bn. The acquisition of one of the largest providers of financial product registration in Brazil will nearly double the size of CETIP, a financial clearing house, says the buyer. CETIP stock closed up 4.88% to end Thursday at BRL21.50 on news of the transaction, after rising as high as 12% earlier...

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