Visa Raises $100 Million With Sale Of Brazilian Holdings

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SAN FRANCISCO – Visa on Wednesday said it sold its 10% stake in CBSS to Brazilian-based banks Banco do Brasil and Bradesco for about $100 million.

CBSS will continue to issue Visa Vale prepaid cards and Visa International said it expects no disruption to cardholder service on account of the deal.

The transaction is subject to regulatory approval.

 

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