June 27, 2016 / 1:32 PM / 2 years ago

Zaher family considers Brazil's Estácio buyout amid rival bids

SAO PAULO, June 27 (Reuters) - Brazil’s Zaher family is considering buying out control of No. 2 college operator Estácio Participações SA, which is also the target of two rival takeover bids.

In a Monday securities filing, Estácio said that the Zahers sent the company a buyout proposal that would give them control of a minimum 50 percent stake plus one share. The Zahers would not buy more than 75 percent of Estácio, which under terms of the proposal would remain listed in the São Paulo Stock Exchange.

The proposed price and terms of the Zahers’ proposal were not unveiled in the filing. (Reporting by Guillermo Parra-Bernal)

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