Ant Financial to Acquire Equity Interest in One97
02.12.15
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The Firm is representing Zhejiang Ant Small and Micro Financial Services (“Ant Financial”) in connection with its acquisition of an equity interest in One97 Communications Limited (“One97”). Ant Financial operates China’s largest ecommerce payment service provider, Alipay, among other financial services. Under the brand “PayTM,” One97 operates India’s largest digital goods and mobile commerce platform and a leading ecommerce payment service provider in India. The proposed investment is Ant Financial’s first investment in India.
The Simpson Thacher team working on the transaction includes Katie Sudol, Ian Ho and Sandra Kister (M&A); David Vann and Étienne Renaudeau (Competition); Judy Yan (Tax); and Josh Walker and Michelle Morad (Intellectual Property).