March 14, 2019 / 9:38 PM / 4 days ago

Santander Brasil acquires remaining 40 pct stake in payroll loan business

SAO PAULO, March 14 (Reuters) - Banco Santander Brasil SA acquired a 40 percent stake in the payroll loan bank Olé Bonsucesso Consignado SA, in move that gave it full control of the business, according to a filing on Thursday.

Santander Brasil and Banco Bonsucesso agreed on a joint venture in 2015, with stakes of 60 and 40 percent respectively. The deal value was not disclosed. (Reporting by Carolina Mandl Editing by Marguerita Choy)

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