Berkshire Hathaway to take $500M stake in Brazil's Nu Pagamentos - WSJ

Jun. 08, 2021 8:34 AM ETBerkshire Hathaway Inc. (BRK.A), BRK.BBRK.A, BRK.BBy: Liz Kiesche, SA News Editor50 Comments
  • Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) agrees to buy $500M of Nu Pagamentos SA shares, giving it a stake in the fast-growing digital banking space in Latin America's largest economy, the Wall Street Journal reports.
  • Nu Pagamentos also received another $250M investment from a group of domestic and foreign investors, the company told the WSJ. Together, the deals put Nu's value at ~$30B.
  • The Berkshire deal is the largest single investment it has ever received, the company said.
  • The Brazilian fintech, which operates as Nubank, has 40M users in Brazil, Mexico, and Colombia, it said, and has raised ~$2B since it was created in 2013.
  • Berkshire B shares rise 0.2% in premarket trading.
  • In 2019, SoftBank was considering a $1B investment in Nubank.

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