Ogier alongside Clifford Chance LLP has advised Chinese internet giant Tencent on its acquisition of a stake in Brazilian fintech firm Nubank.

A team led by partner Giorgio Subiotto advised on the acquisition.

Tencent is one of the world’s biggest companies by market capitalisation and operates digital services including mobile games, e-commerce, online payment systems – including WeChat, a Chinese messaging app with more than a billion monthly active users.

Nubank is a Brazilian fintech firm offering an app-backed credit card service.

The Ogier team advised on the Cayman law aspects of the deal.

Giorgio, who led the team of senior associates Tommy Tuohy, Tim Cone, and Praajakta Pargaonkar on the deal, said: “We were pleased to have advised Tencent on this acquisition in Brazil – it was a significant deal in the fintech space.”