STXNEWS LATAM-Brazil's Anima to buy rival university São Judas

jueves 10 de abril de 2014 17:47 GYT

GAEC Educação SA, the Brazilian education group known as Anima, agreed on Thursday to pay 320 million reais ($145.5 million) in cash to acquire rival university São Judas Tadeo, helping propel the group's expansion in Latin America's largest economy.

Anima will pay a first installment of 256 million reais to be disbursed the day of the deal's settlement, and another of 65 million reais when due diligence is concluded, Anima said in a securities filing.

The deal is subject to regulatory approval. Itaú BBA advised Anima on the transaction, while Singular Partners managed the deal for São Judas.