Brazil's Kroton-Estácio deal not at risk over accounting flaws -CEO

viernes 12 de agosto de 2016 11:38 GYT
 

SAO PAULO Aug 12 (Reuters) - Kroton Educacional SA , Brazil's largest for-profit education firm, said on Friday that ongoing accounting adjustments by rival Estácio Participações SA are not likely to put the two companies' planned merger at risk.

In a conference call to discuss second-quarter results, Kroton Chief Executive Officer Rodrigo Galindo said those adjustments are not deemed relevant and are unlikely to trigger changes to the memorandum of understanding signed with Estácio.

Shareholders of both companies will vote on the transaction Aug. 15. (Reporting by Ana Mano; Editing by Matthew Lewis)