Carlos Slim’s bank to acquire stake in Brazil unit of Global Payments

Industry:    July, 2019

Brazilian antitrust watchdog Cade has approved Mexican lender Inbursa’s [GFINBI.UL] acquisition of a roughly 33% stake in the Brazilian unit of payment technology company Global Payments Inc (GPN.N), according to a report from the regulator.

Inbursa, which is controlled by the family of billionaire Carlos Slim, intends to have a card processor business in Brazil through Banco Inbursa SA.

Cade said Inbursa informed it that Global Payments and Slim’s Brazilian subsidiary of America Movil (AMXL.MX) may forge a partnership in the future.

The transaction value has not been disclosed.

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