July 13, 2016 / 8:27 PM / 2 years ago

Brazil's Ser seeking acquisitions after failed bid for Estácio: CEO

RIO DE JANEIRO, July 13 (Reuters) - Brazilian education company Ser Educacional SA is looking acquisition targets after its bid to merge with rival Estácio Participações SA failed, Chief Executive Janio Diniz told Reuters on Tuesday.

Ser plans to grow primarily in the distance learning segment over the next two years, Diniz said. Estácio’s board recommended last Friday that shareholders approve the third takeover offer made by rival Kroton Educacional SA. Ser canceled its bid last Monday. (Reporting by Juliana Schincariol, writing by Tatiana Bautzer, editing by G Crosse)

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