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UPDATE 3-Brazil's Banco Pan buys tech company Mosaico

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(Adds share swap ratio, context)

By Carolina Mandl

SAO PAULO, Oct 3 (Reuters) - Brazilian lender Banco Pan has reached an agreement to acquire e-commerce technology company Mosaico in an all-share transaction, the bank said on Sunday.

Mosaico's shareholders will receive 0.8 share of Banco Pan plus a 4 real rights issue to buy the lender's share if it reaches 24 reais for three consecutive days in the next 30 months. Without the rights issue, the deal offers a nearly 10% premium to Mosaico's shareholders.

After the deal's conclusion, Mosaico's stake in Banco Pan would be between 7.8% and 9.2%.

The move underscores the recent strategy among banks of having their own marketplace to sell goods while also offering financial services to engage clients. SoftBank-backed Banco Inter SA has already launched a marketplace and Banco Bradesco SA has unveiled plans to create one.

Carlos Eduardo Guimaraes, CEO of Banco Pan, said in an interview the deal accelerates the lender's plans to launch a marketplace for its 12.5 million clients, while Mosaico, owner of price comparison sites Zoom and Buscape, was also planning to add financial services to its platform, which has 22 million unique users.

Banco BTG Pactual SA, which is a controlling shareholder in Banco Pan, is already a shareholder in Mosaico, with a 13.3% stake. The tech company also forged a five-year partnership with BTG in January to offer cashback to the bank's clients.

Mosaico's shares ended almost 9% higher on Friday, and the company's market capitalization was 1.6 billion reais ($298.32 million). Banco Pan's value was 9.5 billion reais, and its shares rose by 8.46% on Friday.

Mosaico listed its shares on the Sao Paulo stock exchange in February at 19.80 reais each, but since then it has poorly performed. On Friday, shares closed the trading day at 12.62 reais. ($1 = 5.3634 reais) (Reporting by Carolina Mandl; Editing by Kim Coghill and Krishna Chandra Eluri)

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