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Deadline for Brazil review of Kroton-Estácio merger now July 27
June 7, 2017 / 9:03 PM / 6 months ago

Deadline for Brazil review of Kroton-Estácio merger now July 27

SAO PAULO (Reuters) - Kroton Educacional SA (KROT3.SA) and Estácio Participações (ESTC3.SA), Brazil’s two largest for-profit education firms, said antitrust agency Cade extended by 30 days the analysis period for the companies’ proposed merger.

    In a securities filing on Wednesday, the companies said the date for a final ruling was moved to July 27. Cade is not obliged to use all of the additional time and a ruling could come sooner, Kroton said.

    Reporting by Ana Mano; Editing by Cynthia Osterman

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