Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Santander Brasil to Pay $490 Million for Card Processor

Don't Miss Out —
Follow us on:

April 7 (Bloomberg) -- Santander Brasil SA, the Brazilian unit of Spain’s biggest lender, agreed to acquire Getnet Tecnologia em Captura e Processamento de Transacoes H.U.A.H. SA for 1.1 billion reais ($490 million) to expand in the card payment-processor business.

Santander Brasil’s SGS unit, a joint venture created by the bank and Getnet, will pay 1.02 billion reais right away and 84 million reais in five annual installments, according to a regulatory filing today. The Sao Paulo-based lender said the transaction needs to be approved by Brazil’s central bank and the nation’s antitrust regulator, known as Cade.

The deal comes 18 months after Itau Unibanco Holding SA, Latin America’s largest bank by assets, paid 11.8 billion reais to purchase the 50 percent of card processor Redecard SA it didn’t own. Revenue from credit- and debit-card transactions in Brazil rose 18 percent in 2013 and will probably expand 17 percent this year, according to the nation’s association of credit-card operators, Abecs.

Brazil’s economy will grow 1.6 percent this year, according to a central bank survey of about 100 analysts published today.

Santander Brasil rose 1.6 percent to 12.80 reais in Sao Paulo at 10:26 a.m., while Brazil’s benchmark index Ibovespa gained 1 percent.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at

To contact the editors responsible for this story: Peter Eichenbaum at Steve Dickson, Steven Crabill

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.