Brazilian Educators Merge

Brazilian Educators Merge

Brazil M&A

Brazil’s Kroton Educacional has agreed to buy peer Anhanguera Educacional for BRL5.0bn ($2.49bn) in an all-stock deal, the companies say, in order to take better advantage of consolidation possibilities in the sector. Kroton will issue 198.8m new shares to pay 1.36 shares for each Anhanguera share, indicating a BRL5.0bn price at the previous session’s BRL25.50 close. Kroton will have 57.48% of the new company and Anhanguera 42.52%. Ananguera shares closed at BRL36.80 Monday, and Kropon at BRL27.

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