Brazilian fintech Stone hires banks to sell software unit Linx
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
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