Magazine Luiza to acquire payments company Hub in USD 56 mln deal
News Magazine Luiza to acquire payments company Hub in USD 56 mln deal Tuesday 22 December 2020 14:55 CET | News Brazil-based retailer Magazine Luiza, through its payments arm MagaluPay, has inked a deal to take 100% ownership of the payments firm Hub Prepaid Participações. Under the agreement, the retailer will pay USD 56.6million for purchasing the payment institution. Hub Fintech began its operations in 2012 and is regulated by the Central Bank of Brazil. Its subsidiary Hub Payments is fully integrated with the Brazilian Payment System and the Instant Payment System. The company offe...
Source: thepaypers.com