October 1, 2019 / 9:24 PM / 8 months ago

Carrefour Brasil buys 49% stake in Brazilian fintech

SAO PAULO, Oct 1 (Reuters) - Carrefour Brasil said on Tuesday its subsidiary has agreed to buy a 49% stake in Brazilian fintech Ewally Tecnologia e Serviços S.A. for an undisclosed amount, as part of plans to offer digital checking accounts to its customers.

Under the terms of the deal, the local unit of French retailer Carrefour SA will have the option to acquire the control of Ewally in three years. Carrefour Brasil intends to reach customers who currently have no access to the company’s credit cards, Carlos Mauad, chief executive officer of Banco Carrefour, said in a securities filing on Tuesday. (Reporting by Gabriela Mello Editing by Leslie Adler)

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