Allen & Overy advised Cielo S.A. on the deal.
Cielo S.A. (Cielo), a leading electronic payments business in Brazil and in Latin America, agreed Facebook, Inc. (Facebook) to launch the “Facebook Pay” platform in Brazil.
The Facebook Pay platform enables peer-to-peer and person-to-merchant payments and money transfers within certain applications owned or managed by Facebook.
The transformational transaction marks the first time Facebook Pay is available, and that cash payments and transfers can be made via WhatsApp, in South America. The platform will allow over 120 million users of these Facebook applications within Brazil (Facebook’s second largest market after India) to make seamless and secure payments and money transfers, further supporting the country’s economic growth.
Allen & Overy’s advice was led by partners Bruno Soares (Picture – São Paulo) and Filip Van Elsen (Antwerp), with support from senior associates André Teixeira (São Paulo) and Cédric Lindenmann (Brussels), and associates Eduardo D. Kappel (São Paulo) and Aurore Dacier de Biasi (Antwerp).
Law Firms: Allen & Overy;
Clients: Cielo SA;