UPDATE 1-E-commerce firm Shopee buys credit arm from Brazil’s Warburg Pincus-backed Blu

E-commerce firm Shopee bought Brazilian fintech Blu's local credit arm, according to a regulatory filing on Monday, as the Singapore-based company aims to offer credit directly to customers living in Latin America's largest economy. The deal, which has not yet been announced by the companies, won a preliminary approval from Brazil's antitrust regulator Cade, according to the country's official gazette. The Cade filing did not say how much Shopee would pay to Blu, backed by U.S. private equity firm Warburg Pincus.