(Adds on Tarpon CEO change, share prices)
BRASILIA, Feb 9 (Reuters) - Funds managed by Brazilian buyout firm Tarpon Investimentos SA will take control of education company Abril Educação SA and replace its chief executive officer, Abril said on Monday.
Thunnus Participações SA, owned by Tarpon-managed funds, will buy an additional 20.7 percent stake in voting shares from Abril’s founding Civita family and Abrilpar Participações Ltda for 12.33 reais per share.
Common shares of Abril Educação jumped 16.8 percent in early trading, while Tarpon shares were up about 0.5 percent.
Abril stock tumbled 15 percent in January after the government made an unexpected regulatory change governing a college loan program, putting an end to a dizzying rally for education stocks in Brazil.
Eduardo Mufarej, currently CEO of Tarpon, will leave that position to take over as Abril Educacao’s CEO.
José Carlos Reis de Magalhães Neto will take over as Tarpon’s CEO on an interim basis, according to a separate filing, while Miguel Gomes Ferreira will be head of investor relations at the buyout firm.
Tarpon acquired 24.2 percent of Abril’s voting shares last June. With the deal, Tarpon’s total stake in Abril will be worth 1.3 billion reais. (Reporting by Silvio Cascione and Asher Levine; Editing by Jason Neely and Jeffrey Benkoe)