Tarpon takes Abril stake, CEO change ahead

Tarpon takes Abril stake, CEO change ahead

M&A

Brazilian asset manager Tarpon Gestora de Recursos has agreed to buy 24.21% of the voting shares of private education company Abril Educacao. Under the deal, Manoel Amorim will be replaced as chief executive by Mario Ghio, who runs pedagogical products and services. Tarpon is to pay Abril Participacoes BRL11.67 ($5.1) per share for 32.9m common shares and 19.1m preferred shares. That is equal to 24.21% of ordinary shares and 15.26% of the preferred stock. The price is equivalent to BRL35 per uni

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