in

Banco Santander Brasil analyzes the spin-off of Getnet

Banco Santander Brasil analyzes the spin-off of Getnet

Banco Santander Brasil has announced the opening of the analysis of the spin-off of its Getnet merchant payments business, given the possibility of listing it.

The transaction would support the group’s plans to consolidate its merchant acquisition franchise, further enhancing the services it offers to clients, and creating value for shareholders.

If the spin-off is effectively carried out, the current shareholders of the Banco Santander subsidiary in Brazil would become direct shareholders of Getnet on a proportional basis.

Grupo Santander currently owns 89.51% of Santander Brasil, while the rest of the shares are held by minority shareholders.

The possible spin-off of Getnet is subject to the results of the analysis and the corresponding approvals, including those of shareholders and regulators.

Last October, Banco Santander made public its plans to integrate its most disruptive payments businesses, among which Getnet, into a single autonomous company called PagoNxt, focused on solutions for merchants, solutions for SMEs that operate internationally, and products and services. digital services for individuals.

Banco Santander intends to grow in this highly attractive market. In this sense, the entity chaired by Ana Botín has closed an agreement to acquire several specialized technological assets of the payment services business for businesses of the German ‘fintech’ Wirecard, which last June submitted its request to start the procedure to declare insolvent .

With this acquisition, the objective of Banco Santander is to promote Getnet’s expansion in Europe, expanding the global architecture of the open platform for payment solutions, and offering other synergies in international trade and payments.