Brazil: CADE clears purchase of Somos by Kroton

Brazil’s Administrative Council of Economic Defense (CADE) authorized the takeover of Somos Educação, part of Tarpon Investimentos, by Kroton Educacional, the market leader in the country’s private educational sector, in an operation valued at 4.57 billion Reals (US$1,105 million).

The CADE General Superintendency concluded that the transaction would not damage competition in the markets for higher education, educational books, early childhood education (kindergarten and pre-school) and basic education “when the horizontal overlays are analyzed when looking at the possible vertical integrations as a result of the act of concentration. ”

Kroton released information that the SG had published a favorable opinion on the transaction. The education company also stated that if there is no appeal against the process within 15 days by the antitrust tribunal, “the operation will be considered as formally approved by the CADE.”

Full Content: Lexis Nexis

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.