A PYMNTS Company

Brazil: Mega education merger changes course

By  |  May 7, 2014

A merger agreement struck last year that would create the world’s largest for-profit education provider will reportedly be changed by the merging parties.

Kroton Educacional and Anhanguera Educacional made a joint filing that changes the terms of the deal, more than one year after it was announced last April. In the filing, reports say Kroton will offer a lower ratio of its stock for every share of Anhanguera.

The filing was made despite an announcement made last February by the companies that they would not change the deal’s terms.

Brazil’s competition watchdog CADE is eyeing the deal closely, reports say, as concern has already been raised over the market share of the proposed new company.

Full content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.