STXNEWS LATAM-Shareholders of Kroton, Anhanguera approve swap terms, takeover

jueves 3 de julio de 2014 14:35 GYT

Shareholders of Kroton Educacional SA and Anhanguera Educacional Participaçoes SA approved on Thursday terms of a share swap between the companies, part of the former's takeover of Anhanguera. At separate shareholders' meetings, Kroton approved the issuance of 135.4 million new shares to be distributed among shareholders of Anhanguera, the companies said in a joint securities filing.

The board of Kroton also approved paying a one-time dividend of 483 million reais ($219 million) in two installments, the filing said.

In recent weeks, Brazil's antitrust watchdog, Cade, approved Kroton's $2.5 billion takeover of Anhanguera with several restrictions.