By Luciana Magalhaes
SAO PAULO (Reuters) – Brazilian monetary technology company Stone Carbon monoxide has actually gotten several nonbinding deals for its software program device Linx, yet the quotes until now are listed below what it spent for the possession in 2020, according to 3 individuals acquainted with the settlements.
Stone Carbon Monoxide, which is detailed in New York, gotten Linx for 6.7 billion reais ($ 1.14 billion) 4 years back.
As of currently, 20 possible prospective buyers have actually authorized non-disclosure arrangements to have accessibility to info relating to the sale, 2 of individuals informed Reuters.
The firms consist of Brazilian software program company Totvs SA and Canada’s Constellation Software, according to the exact same resources.
Of the 20, 6 companies have actually made non-binding deals, the resources claimed.
Totvs today verified a recurring procedure which might cause a nonbinding proposition. The company claimed it has actually not yet made a deal to get Linx.
Constellation did not promptly respond to ask for remark.
Stone Carbon monoxide decreased to comment.
An individual acquainted with the bidding procedure claimed some deals made until now were greater than 50% less than what Stone Carbon monoxide spent for Linx 4 years back. Another resource claimed there were quotes more than that, keeping in mind that Stone Carbon monoxide would most likely rule out offering Linx for a lot less than 5 billion reais.
Reuters reported in September that Stone had actually worked with financial investment financial institutions J.P. Morgan and Morgan Stanley to market Linx.
The business later on verified it had actually worked with consultants to discover choices concerning its software program company, without establishing a target date for any type of sort of offer.
Stone remains in a comfy monetary setting and has no necessity to market Linx, among individuals acquainted with the talks claimed.
Earlier this month, Stone Carbon monoxide licensed a share bought program of approximately 2 billion reais.
(Reporting by Luciana Magalhaes; Editing by Chizu Nomiyama)
