Sao Paulo-based TozziniFreire advised WEX, the provider of corporate payment processing services, on its acquisition of a 49 per cent stake in Unik.
The deal gives WEX complete ownership of Unik, following its 2012 acquisition of an initial stake in the Brazilian provider of salary payment and freight cards.
The value of the transaction was undisclosed.
Unik’s salary payment and freight cards are accepted at more than 1.8 million businesses in Brazil. The company provides basic financial services to lower-income Brazilian workers as well as pensioners.