Cielo sells stake in MerchantE

Cielo sells stake in MerchantE

Equity Technology Digital Payments Asset Management Brazil United States

Brazilian payment processing company Cielo said Friday that it agreed to sell its stake in California-based financial technology firm MerhantE to US investment firm Integrum Holdings for up to $290 million. Integrum will pay $140 million upon closing the deal and up to $150 million in earn-out payments, Cielo said in a securities filing. "The transaction is part of Cielo's strategy to increase focus on its core business in Brazil in line with other divestments concluded during 2021," the Barueri

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