Pinheiro Neto steers PagSeguro’s Wirecard Brazil acquisition
Brazilian law firm Pinheiro Neto has acted as counsel to PagSeguro Internet on its acquisiion of Wirecard Brazil
The transaction entailed the purchase by PagSeguro, a Brazilian online payment company, of 100 per cent of the equity interest held by various entities of the WireCard Group in WireCard Brazil.
The sale of Wirecard’s Brazil business is the first disposal of assets following the German company’s collapse after an accounting scandal earlier this year.
Wirecard filed for insolvency owing creditors 4 billion euros ($4.71 billion) after disclosing a 1.9-billion-euro hole in its accounts.
Prosecutors suspect Wirecard executives of masterminding a criminal racket to fake the company’s accounts.
The asset sale in Brazil is the first of several sell-offs expected, including the company’s operations in the UK and the US.
Pinheiro Neto’s team advising PagSeguro was led by partners Fernando Mirandez Del Nero Gomes (pictured) and Bruno Balduccini, with senior associate Tiago Eler Silva and associates Marcelo Junqueira de Mello, and Ana Cristina do Val Fausto.
Wisecard was counselled in Brail by Mattos Filho, Veiga Filho, Marrey Jr. and Quiroga Advogados.
