December 19, 2018 / 12:29 PM / 6 months ago

UPDATE 1-Santander Brasil pays $367 mln to take over card processor Getnet

(Adds details about Getnet)

SAO PAULO, Dec 19 (Reuters) - Santander Brasil has become the sole owner of card processor Getnet Adquirencia e Servicos para Meios de Pagamento S.A. after buying an outstanding 11.5 percent stake in the firm for 1.43 billion reais ($367.29 million), it said on Wednesday.

The bank's full takeover of Getnet could add fuel to already fierce competition in the card processing sector, as it could make more aggressive offers to its customers.

Minority shareholders Manzat Inversiones AAU SA and Guilherme Alberto Berthier Stumpf exercised an option to sell their shares to Santander Brasil, the bank said in a securities filing.

Getnet holds a 14 percent market share in the card processor sector, competing with Cielo SA, Rede SA and upstarts PagSeguro Digital Ltd and StoneCo Ltd.

$1 = 3.8934 reais Reporting by Carolina Mandl; editing by Jason Neely and Jan Harvey

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