Plus500 Acquires Brazilian Broker Guru, Expanding South American Ecosystem
By Adonis Adoni
AI summary of the source article
Plus500 has conditionally agreed to acquire full ownership of Brazilian broker-dealer Guru Corretora de Títulos e Valores Mobiliários Ltd. Funded from existing cash resources of over $860 million, the deal secures local CVM and Central Bank of Brazil licenses.
Why it matters
According to CEO David Zruia, "Brazil is one of the world's most attractive trading markets, and acquiring Guru gives us the licence, the experienced local team and the regulatory framework to thrive."
Key facts
- Plus500 conditionally agreed to acquire full ownership of Brazilian broker-dealer Guru using existing cash resources of over $860 million.
- The transaction secures local CVM and Central Bank of Brazil licenses to offer Brazilian stocks, futures, options, and fixed-income securities.
- The acquisition follows Plus500's purchase of US broker-dealer Hedge and a B2B partnership with South American trading tech firm Nelogica.
Source excerpt · Finance Magnates
Plus500 has conditionally agreed to acquire full ownership of Guru Corretora de Títulos e Valores Mobiliários Ltd, a regulated Brazilian broker-dealer. The deal will be funded entirely from the firm’s existing cash resources of over $860 million. By acquiring Guru, the London-listed broker directly secures local CVM and Central Bank of Brazil (BCB) licenses. This regulatory framework allows the gr…