Fleury Acquires Labs D’Or

Fleury Acquires Labs D’Or

M&A

Grupo Fleury has acquired Labs D’Or for BRL1.04bn in a cash and stock transaction. According to the Brazilian lab company, the acquisition will be paid 50% in cash and 50% with new Fleury stock, which will leave Labs D’Or shareholders with 15% of the company. Fleury management values the acquisition at 10.4x Ebitda. According to Iago Whately, equity analyst with Banco Fator, the acquisition is more expensive than the market might have expected, though not unreasonably so. The last acquisition in

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