OLX Brazil’s Acquisition of Grupo ZAP

On March 4, 2020, OLX Brazil, the 50/50 joint venture between Prosus NV and Adevinta ASA, and one of the fastest-growing tech companies in Brazil, announced that it has entered into an agreement to acquire 100 percent of the shares of Grupo ZAP for a total cash amount of approximately R$2.9 billion. Cravath is representing OLX Brazil in connection with the transaction.

The Cravath team is led by partner David Mercado, senior attorney Ralph Currey, associates Yannick Adler and Michael Zhang, and foreign corporate associate Eduarda N. Tavares on M&A matters; partners Lauren Angelilli and Christopher K. Fargo and associate Andrew T. Davis on tax matters; senior attorney Michelle M. Garrett on executive compensation and benefits matters; and partner David J. Kappos and associate Kathryn-Ann Stamm on intellectual property matters. Brendon H. Rivard also worked on executive compensation and benefits matters.