Banco Inter takes stake in Granito

Banco Inter takes stake in Granito

Capital Markets Equity M&A Corporate & Sovereign Strategy Brazil Latin America

Brazilian online lender Banco Inter said late Tuesday that it agreed to pay BRL90 million ($16.8 million) to Banco BMG for 45% of the payments processing company Granito. "We believe that payments, credit and e-commerce have an interconnected relationship, and this acquisition is essential to build an open and successful digital platform," Banco Inter CEO João Vitor Menin said in a securities filing. The transaction also saw Banco BMG pay BRL7.5 million for an additional 6.81% stake in Granito,

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