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Brazil's Kroton to buy back shares after rejection of deal
June 29, 2017 / 12:20 AM / 5 months ago

Brazil's Kroton to buy back shares after rejection of deal

SAO PAULO (Reuters) - Brazil’s college operator Kroton Educacional SA will buy back up to 48.7 million shares, equivalent to 3 percent of shares in circulation, the company said in a securities filing late on Wednesday.

The announcement of the share buyback program came after Brazil’s antitrust watchdog rejected on Wednesday the proposed takeover by Kroton of rival Estácio Participações SA (ESTC3.SA).

Reporting by Tatiana Bautzer; Editing by Sandra Maler

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