Trilegal and Simpson Thacher Bartlett advised Chinese online financial services company Ant Financial Services Group, an affiliate of Chinese e-commerce giant Alibaba, on its acquisition of a 25 per cent stake in One97 Communications, which runs Indian payment gateway Paytm. One97 was advised by Amarchand Mangaldas.

Trilegal partner Nishant Parikh, counsel Rohan Ghosh Roy and associates Gaurav Dugar, Sanchit Agarwal, Anubhab Dasgupta and Sibani Saxena acted for Ant.

Simpson Thacher Hong Kong partner Kathryn Sudol, counsel Ian Ho, and associate Sandra Kister were the international counsel for Ant, which runs AliPay Wallet – China’s largest mobile payment services provider, according to Mint.

Amarchand Delhi Partner Raghubir Menon with associates Ekta Gupta and Aritra Roy acted for One97.

This is Ant’s first investment in India.