Carrefour Buys Minority Stake in Brazil Financial Technology Company
October 02 2019 - 3:10AM
Dow Jones News
By Carlo Martuscelli
Carrefour S.A. (CA.FR) said Wednesday that it has taken a 49%
stake in Brazilian financial technology company Ewally for an
unspecified amount.
The French supermarket chain said the transaction will allow it
to enhance its payments and digital product offering in Brazil. The
deal includes option to buy the company outright after three
years.
With the stake acquisition, Carrefour said it aims to roll out
new financial services in the country.
"Currently, one in three Brazilians, or about 45 million people,
does not have a bank account," said Carrefour. "The digital account
will be offered via an application that will allow customers to pay
bills, transfer money, accept payments and top up services."
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
October 02, 2019 02:55 ET (06:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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