StoneCo sells the remainder of its stake in Inter (BIDI11) for BRL 218 million

StoneCo said this Wednesday that it fully sold its remaining stake at Inter for 12.96 reais each share (Image: Disclosure/Banco Inter)

StoneCo said on Wednesday that it fully sold its remaining stake in the Inter for 12.96 reais each share, which represents an operation of 218 million reais.

StoneCo said the move follows its goal of focusing on its core software and financial services business.

The company had already sold Inter shares in 2022, a participation that even put negative pressure on its results.

StoneCo announced in May 2021 an agreement with Inter and the bank’s controlling shareholders, which involved the acquisition of a minority stake limited to 4.99% and an investment of around 2.5 billion reais.

The partnership even extended to commercial matters.

analysts of Citi led by Gabriel Gusan wrote that the divestment is “good news and indicates that StoneCo is shifting its focus to its core operations and strengthening its balance sheet”, according to a client report published earlier, in which they echoed news on the matter.

Source: Moneytimes

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