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Brazil: Prosecutors want conditions on year-old education merger

By  |  April 11, 2014

A merger between two education companies in Brazil, announced one year ago, is now in jeopardy as federal prosecutors recommend forced divestitures between the businesses, say reports.

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    Antitrust regulator CADE is being encouraged to require Kroton Educacional and Anhanguera Educacional to sell assets on condition of the merger, first announced last April. The merger created the nation’s largest educational company, reports say.

    Local media say long-distance asset Uniderp, currently owned by Anhanguera, could be forced to be sold off. It was first acquired in 2007 for $112.7 million.

    Despite reports, federal officials did not disclose which assets they want divested. CADE is not obligated to follow prosecutors’ recommendation.

    Full Content: Wall Street Journal

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