Nubank filed a binding offer for the Brazilian arm of Portugal's state bank, a small target that would hand the fintech the full banking license it needs.
Corporates
Key Facts
—The move. Nubank filed a binding offer for Banco Caixa Geral Brasil, the local arm of Portugal’s state bank.
—The price. Reports put the offer near forty-two million euros, about two hundred and fifty million reais, much of it in assumed debt.
—The prize. The target holds a full Brazilian banking license, which Nubank still lacks despite its scale.
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