Brazilian fintech Stone hires banks to sell software unit Linx

StoneCo

13/09/2024 23:15

By Luciana Magalhaes
       SAO PAULO, Sept 13 (Reuters) - Brazilian financial tech
firm Stone  STNE.O  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)

 (Reporting by Luciana  Magalhaes
Editing by Brad Haynes and Deepa Babington)
 ((Luciana.NovaesMagalhaes@thomsonreuters.com;))