Bradesco (BBDC4) buys Banco Digio, from BB (BBAS3), for R$ 625 million

Bradesco (BBDC4) buys BB's remaining stake (BBAS3) in Banco Digio for R$ 625 million
Bradesco (BBDC4): Digio currently has around 2 million credit cards and offers accounts and personal credit to its customers. Photo: Disclosure

O Bradesco (BBDC4) announced this Friday (8) the acquisition of the remaining share of 49.9% of digital bank Digio, which belonged to BB Elo Cards, a subsidiary of Banco do Brasil (BBAS3). The transaction value was R$ 625 million.

By contract, the Bradesco now holds, indirectly, 100% of the share capital from the company. The transaction was carried out between Bradescard Elo and BB Elo,

According to Bradesco, Digio is a digital bank, “which provides its individual customers with a ‘differentiated experience’ to carry out their financial and payment activities.”

Digio currently has about 2 million credit cards and offers accounts and personal credit to its customers, says Bradesco in a material fact.

The credit portfolio is around R$2.5 billion.

“This transaction is in line with Bradesco’s strategy of investing in digital companies, complementing its operations in a diversified manner and reaching a variety of
different models”, writes Bradesco in a statement.

In a note, also released this Friday, the Bank of Brazil informs that the estimated impact on the bank’s results is approximately R$175 million “via equity accounting, of approximately R$175 million and there is no material effect on capital.”

The operation is subject to approval by Cade (Administrative Council for Economic Defense) and the Central Bank (BC).

Bradesco buys solar energy from Enel X for 300 branches

On September 27th, Bradesco closed another expressive deal. The bank signed a partnership with Enel X, the innovation arm of the energy distributor, for the construction of solar plants that will have the capacity to supply more than 300 branches. The information is from the O Globo newspaper.

According to the news vehicle, the Enel X will build nine solar plantss distributed generation in Rio de Janeiro, Ceará and Goiás. The plants will have the capacity to supply more than 300 Bradesco branches for a period of 10 years.

This is Enel X’s second major contract in distributed generation, bringing the contracted capacity in solar energy.

Cosan closes R$1.4 billion round at Compass, led by Bradesco

Earlier this month, Bradesco led a R$1.44 billion investment round in Compass, a subsidiary of cosan (CSAN3) which operates in the gas segment. The transaction valued Compass at R$17.31 million, pre-money.

The contribution will guarantee Cosan a total of R$ 2.25 billion for the subsidiary and the possibility of postponing a little more an initial public offering of shares (IPO, its acronym in English). After the contribution of the Bradesco and other investors, the holding will still hold 88% of the company.