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    MGLU3   BRMGLUACNOR2

MAGAZINE LUIZA S.A.

(MGLU3)
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Magazine Luiza S A : Notice to the Market - Successful Conclusion of the Hub Fintech Acquisition

07/05/2021 | 08:24am EDT

MAGAZINE LUIZA S.A.

Publicly-held Company

Corporate Taxpayer ID: 47.960.950/0001-21

Company Registry (NIRE): 35.3.0010481.1

NOTICE TO THE MARKET

Magazine Luiza S.A. ("Company" or "Magalu"), announces to its shareholders and the market in general that it obtained approval for the transfer of control of Hub Prepaid Participações S.A. and its subsidiaries (collectively referred to as, "Hub Fintech" or "Hub") to Magalu Pagamentos, a wholly owned subsidiary of Magalu, from the Administrative Council for Economic Defense (CADE), the Brazilian antitrust agency, and the Central Bank of Brazil. The acquisition was definitively concluded on this date.

Hub Fintech is a payment institution regulated by the Central Bank. It is fully integrated with the Brazilian Payment System (SPB) and the Instant Payment System (PIX). Hub is also one of the largest Banking as a Service (BaaS) platforms in Brazil. In addition to being one of the leading processors of prepaid cards, Hub offers a variety of services such as benefit cards (food, meals), acquiring and corporate solutions for credit management. With the recent acquisition of Bit55, a leading credit card processor, Hub now offers a complete portfolio of its own scalable financial technology solutions.

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, July 5th, 2021

Roberto Bellissimo Rodrigues

Chief Financial Officer and Director of Investor Relations

Disclaimer

Magazine Luiza SA published this content on 05 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2021 12:23:04 UTC.


© Publicnow 2021
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Financials
Sales 2021 37 562 M 7 109 M 7 109 M
Net income 2021 809 M 153 M 153 M
Net cash 2021 2 421 M 458 M 458 M
P/E ratio 2021 157x
Yield 2021 0,19%
Capitalization 110 B 20 691 M 20 789 M
EV / Sales 2021 2,86x
EV / Sales 2022 2,29x
Nbr of Employees 40 000
Free-Float 42,5%
Chart MAGAZINE LUIZA S.A.
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Magazine Luiza S.A. Technical Analysis Chart | MGLU3 | BRMGLUACNOR2 | MarketScreener
Technical analysis trends MAGAZINE LUIZA S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 16,57 BRL
Average target price 27,31 BRL
Spread / Average Target 64,8%
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