Carlos Slim’s financial institution to accumulate stake in Brazil unit of International Funds

SAO PAULO (Reuters) Brazilian antitrust watchdog Cade has accredited Mexican lender Inbursa’s [GFINBI.UL] acquisition of a roughly 33% stake within the Brazilian unit of cost know-how firm International Funds Inc (GPN.N), in keeping with a report from the regulator.

Inbursa, which is managed by the household of billionaire Carlos Slim, intends to have a card processor enterprise in Brazil by Banco Inbursa SA.

Cade mentioned Inbursa knowledgeable it that International Funds and Slim’s Brazilian subsidiary of America Movil (AMXL.MX) might forge a partnership sooner or later.

The transaction worth has not been disclosed.

Reporting by Alberto Alerigi Jr; Writing by Carolina Mandl; enhancing by Jonathan Oatis

Author: Maxwell C.

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