Slaughter and May advised Banco Bilbao Vizcaya Argentaria, S.A. on its Series D investment of c. $300 million in Neon

Slaughter and May and Uría Menéndez, working as an integrated team, have advised Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”), on its Series D investment of c. $300 million in Neon, a Brazilian digital bank founded in 2016.

With this new investment, BBVA has acquired a c. 21.7 percent stake in Neon. As BBVA already held a stake through its venture capital fund Propel, following this transaction, BBVA holds indirectly a total stake of c. 29.7 percent.

Neon represents a new step in BBVA’s strategy to enter new markets through investments in digital platforms.

The Slaughter and May team was led by Filippo de Falco, supported by Beth Harper as associate.