Ant Financial Enters Into Strategic Partnership With bKash in Bangladesh
05.07.18
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Simpson Thacher is representing Ant Financial Services Group (“Ant Financial”) in connection with its strategic partnership with bKash Limited in Bangladesh. As part of Ant Financial’s global strategy, the partnership involves Ant Financial investing into and sharing technological know-how with bKash in order to promote financial inclusion for the unbanked and underbanked communities in Bangladesh. bKash is a leading mobile financial services provider in Bangladesh, with a network of more than 180,000 agents throughout urban and rural areas of Bangladesh and with over 30 million registered accounts. bKash is a subsidiary of BRAC Bank, a leading private commercial Bank in Bangladesh; International Finance Corporation and Bill & Melinda Gates Foundation are also shareholders.
The Simpson Thacher team for the transaction includes Ian Ho, Erik Wang and Matthew Leung (M&A).