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Brazilian fintech Stone hires banks to sell software unit Linx
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Brazilian fintech Stone hires banks to sell software unit Linx
Sep 14, 2024 2:30 AM

SAO PAULO, Sept 13 (Reuters) - Brazilian financial tech

firm Stone has hired investment banks J.P. Morgan and

Morgan Stanley to sell Linx, a software company the company

bought in 2020 for 6.7 billion reais ($1.2 billion), two people

familiar with the matter said.

The sources, who requested anonymity to discuss the private

deliberations, said the investment banks are currently in

preliminary talks with possible buyers, including some

international investment funds, without disclosing more details.

J.P. Morgan and Morgan Stanley did not reply to requests for

comment. Stone declined to comment.

One of the people familiar with the potential transaction

told Reuters that Stone is not in a hurry to complete the deal

and aims to sell the software company for a price around what it

had paid.

The same person said Stone wants to maintain its partnership

with Linx even after the sale. Linx develops retail software and

is popular with e-commerce firms in Brazil.

($1 = 5.56 reais)

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