May 23, 2022
The Brazilian branch of Spanish bank Santander has decided to repurchase shares in merchant payments platform Gertnet and remove the company from the stock market, according to a securities filing.
PagoNxt Merchant Solutions, a subsidiary of Santander Brasil, has offered to pay BRL4.72 ($0.97) per unit, or BRL2.36 per share, on the B3 exchange in São Paulo, equal to $1.91 for every American depositary share (ADS) on the Nasdaq in New York. It has also added a dividend of BRL0.42 per unit, Getnet
Santander's Brazilian branch plans to delist the payments spin-off after seven months on the B3