Chinese Ant Group agrees to invest in Brazil loyalty program Dotz

Company of the Chad brothers was valued at about R$ 1 billion by the new Chinese partner.

RIO DE JANEIRO, BRAZIL - China's Ant Group has sealed a deal to acquire a 5% stake in the Brazilian loyalty program Dotz, according to a securities filing on Wednesday.

Dotz and Alibaba's payment affiliate Ant Group have also signed a business cooperation agreement, in which both companies explore, for instance, new opportunities for digital financial services in Brazil.

Dotz has just launched an initial public offering of roughly 815 million reais ($146.35 million) and plans to start trading on the Sao Paulo stock exchange on May 13.

Dotz set its price range between 16.20 reais and . . .

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