Uruguay’s DLocal CEO Eyes Acquisition, Denies Fintech Is On Sale
Live Mint-- Payment services provider DLocal Ltd. is analyzing whether to buy a smaller fintech rival this year after the company itself was the target of takeover proposals, Chief Executive Officer Pedro Arnt said in an interview Monday. “There is a higher chance than in the past that we could acquire something in the near future.” While declining to comment if DLocal is in talks to buy a company, Arnt confirmed that he was approached last year by at least one firm to acquire DLocal itself. Arnt and major shareholders such as General Atlantic probably don’t have an incentive to sell the company now given its depressed stock price and competitive advantages in emerging markets payments, Susquehanna International Group senior technology analyst Jamie Friedman said. DLocal’s stock has dropped about 29% since August 2023 when Arnt left e-commerce giant MercadoLibre Inc. as its chief financial officer to take the top job at the Uruguayan fintech.
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