Plus500 Agrees to Acquire Brazilian Broker-Dealer Guru

Plus500 Ltd. (PLUS.L, PLSQF) said Tuesday it has conditionally agreed to acquire full ownership of Guru Corretora de Títulos e Valores Mobiliários Ltda., a regulated broker-dealer in Brazil, for undisclosed terms. The fintech company will fund the transaction entirely from existing cash resources exceeding $860 million as of June 30. Completion is subject to customary regulatory approvals and other standard closing conditions, with consideration payable upon closing. Plus500 said the deal provides a direct presence in Brazil and expands its Latin American operations, enabling it to offer Brazilian stocks, futures, options and fixed-income securities, subject to applicable regulatory requirements. On Monday, Plus500 closed 1.72% lower at GBp 3,318 on the London Stock Exchange.