Brazil's Ser Educacional sweetens merger bid with Estácio

miércoles 29 de junio de 2016 08:30 GYT
 

BRASILIA, June 29 (Reuters) - Brazilian college operator Ser Educacional SA sweetened its proposal to combine with larger rival Estacio Participacoes SA by raising its dividend payout offer, according to a securities filing on Wednesday.

The new offer by Ser includes an extraordinary dividend payout of 1 billion reais ($305.86 million) to Estacio shareholders, up from 590 million reais previously.

($1 = 3.2695 Brazilian reais) (Reporting by Silvio Cascione)