Estacio's No 2 shareholder to vote against sweetened Kroton offer - source

martes 21 de junio de 2016 10:57 GYT

SAO PAULO, June 21 (Reuters) - Estácio Participações SA's No 2 shareholder, the Zaher family, plans to vote against a sweetened takeover proposal from rival Brazilian education company Kroton Educacional SA, a source with knowledge of the matter told Reuters on Tuesday.

The family, which owns around 13 percent of Estacio , has taken a tough stance in negotiations with Kroton. Chaim Zaher was appointed Estacio's Chief Executive Officer last week and vowed to look for potential acquisitions, in strategy to fend off two rival bids for the company. (Reporting by Tatiana Bautzer; Editing by Daniel Flynn)