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Brazil's Cade clears way for Banco Topázio stake sale to Edenred

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Brazil's Cade clears way for Banco Topázio stake sale to Edenred

Banco Topázio SA has gained clearance from Brazilian competition watchdog Cade to sell a 20% stake of itself to Edenred Holding Financeira, Valor Econômico reported.

Cade reportedly verified that the transaction "does not lead to competitive concerns."

The sale is now awaiting one final approval from Banco Central do Brasil, the newspaper said.