JP Morgan Chase to acquire a 40% stake in C6 Bank for $2bn.

Transaction Tags

• Private
• Minority
• Friendly
• Pending
• Banks
• Cross Border
• Single Bidder
• Acquisition
• Brazil
• digital bank
• fintech

Synopsis

JP Morgan Chase, an American multinational investment bank, agreed to acquire a 40% stake in C6 Bank, a full-service Brazilian digital bank, for $2bn. "We’re excited to be partnering with one of Brazil’s fastest growing digital banks. We’ve admired C6 Bank, its management team and their strategy for some time. With an impressive platform and product suite, they are well-positioned to sustain their growth trajectory and build a strong franchise. We look forward to supporting C6 Bank in its aspiration to be a long-term winner in the Brazilian banking market," Sanoke Viswanathan, JP Morgan Chase CEO of International Consumer.

Sources