Brazil's Veirano Advogados advised Peixe Urbano for the sale, which was announced on 9 October with no value disclosed. Peixe Urbano has garnered 20 million customers over the past four years. Its acquisition by Baidu is thought to driven by the Brazilian market's growth prospects. Domestic e-commerce is expected to grow by 18 per cent per annum over the next two years.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.