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End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 08/03
20.43 BRL   -0.97%
07/27MAGAZINE LUIZA S A : Material Fact - Merger of Shares of Kabum
07/27Magazine Luiza S.A. acquired Sode.
07/26MAGAZINE LUIZA S A : Dados Econômico-Financeiros
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Magazine Luiza S A : Notice to the Market - Hub Fintech Acquisition

12/21/2020 | 07:21am EDT


Publicly-held Company

Corporate Taxpayer ID: 47.960.950/0001-21

Company Registry (NIRE): 35.3.0010481.1


Magazine Luiza S.A. ​("Company​" or "Magalu​"), announces to its shareholders and the market in general that its subsidiary, Magalu Payments, has entered into a contract for the acquisition of 100% of ​Hub Prepaid Participações S.A. ("Hub Fintech" or "Hub"), ​and its subsidiaries and affiliates, for the amount of R$ 290 million. The conclusion of the acquisition is subject to certain conditions precedent, including approval by the Administrative Council for Economic Defense (CADE), the Brazilian antitrust regulator, and by the Brazilian Central Bank (Bacen).

Hub Fintech, which began operations in 2012, is a payment institution regulated by the Brazilian Central Bank and fully integrated with the Brazilian Payment System (SPB) and the recently launched PIX instant payment system through its subsidiary, Hub Payments S.A.. In addition to offering a digital account and prepaid card directly to its customers, Hub is one of the largest Banking as a Service (BaaS) platforms in Brazil and a leader in prepaid card processing, serving customers in various segments including the retail, mobility, financial institution and fintech sectors.

Important solutions developed by Hub's 250 employees include: (i) the complete banking structure for offering financial products and services through a digital account; (ii) a direct connection with relevant market participants, including lottery agencies and ATMs; (iii) a robust API platform capable of processing and reconciling millions of transactions; (iv) a comprehensive system for issuing and processing prepaid cards of the main brands, and (v) a modern card personalization center with a production capacity of up to 30 million cards per year.

Hub has around 4 million active digital accounts and prepaid cards, which handled approximately R$ 6.6 billion in Total Payment Volume (TPV) the last 12 months, generating gross revenue (unaudited) of around R$ 159 million during the period.

After integration, MagaluPay customers - individuals and companies - will have one of the most comprehensive offerings of financial products and services in the market, free of charge and fully integrated with the Magalu SuperApp. With the digital account, customers will be able to make purchases, deposits, transfers (P2P, TED, DOC and PIX), payments (monthly utility bills and taxes as well as popular local payment methods such as Boletos and PIX), withdrawals (lottery agencies, ATMs and Magalu stores) and services such as prepaid cell phone refills and transportation vouchers. In addition, customers will have a prepaid card tied to their digital account balance, enabling transactions in the physical world.

The acquisition was made by a company controlled by Magalu, with no impact on the procedures described by Art. 256 of Law 6,404 / 76. The Company will keep its shareholders and the market in general duly informed, under the terms of the applicable legislation.

São Paulo, December 21st, 2020

Roberto Bellissimo Rodrigues

Chief Financial Officer and Director of Investor Relations

This is an excerpt of the original content. To continue reading it, access the original document here.


Magazine Luiza SA published this content on 21 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2020 12:20:00 UTC

© Publicnow 2020
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Sales 2021 36 639 M 7 041 M 7 041 M
Net income 2021 649 M 125 M 125 M
Net cash 2021 171 M 32,9 M 32,9 M
P/E ratio 2021 192x
Yield 2021 0,11%
Capitalization 135 B 25 792 M 26 002 M
EV / Sales 2021 3,69x
EV / Sales 2022 2,99x
Nbr of Employees 40 000
Free-Float 42,4%
Duration : Period :
Magazine Luiza S.A. Technical Analysis Chart | MGLU3 | BRMGLUACNOR2 | MarketScreener
Technical analysis trends MAGAZINE LUIZA S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 20,43 BRL
Average target price 27,39 BRL
Spread / Average Target 34,1%
EPS Revisions
Managers and Directors
Frederico Trajano Inácio Rodrigues Chief Executive Officer
Roberto Bellissimo Rodrigues Chief Financial Officer & IR Officer
Luiza Helena Trajano Inácio Rodrigues Chairman
André Luiz de Souza Fatala Chief Technology Officer
Fabrício Bittar Garcia Vice President-Operations & Commercial
Sector and Competitors