March 9, 2021 |
Brazilian car rental company Movida said Monday that it asked local anti-trust authority CADE to block the acquisition of Localiza by rival Unidas due to the impact the tie-up would have on competition in the sector.
Movida said in a securities filing that it had intervened "as an interested third party" and added that the Localiza-Unidad deal brought up "competition concerns."
In September last year, Localiza struck a deal to acquire 76.9% of Unidas in an all-share offer that was said to be wor
Brazilian car rental company asks anti-trust authority CADE to deny the tie-up on competition concerns