Banco Inter covers Usend acquisition with cash

Banco Inter covers Usend acquisition with cash

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets

Brazilian digital lender Banco Inter will cover 80% of the acquisition of US money transfer platform Usend with cash and take care of the rest with shares, Eduardo Lopes, head of new business, told LatinFinance on Tuesday. Banco Inter said in a securities filing on Monday that it had come to terms to buy Usend for an undisclosed amount. It announced the acquisition, its first outside Brazil, in late August. "We have some resources available in cash. This acquisition will be partly in cash and pa

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