May 7, 2019 / 9:47 PM / 2 months ago

Brazil education company Arco agrees to buy rival Positivo for $415 mln

SAO PAULO, May 7 (Reuters) - Brazilian education company Arco Platform Ltd has agreed to buy rival Sistema Positivo de Ensino for 1.65 billion reais ($415 million), the company said in a statement.

Positivo sells learning systems to 695,000 students in the country. If the deal is approved by antitrust authorities, Arco will sell its learnings systems to 4,800 schools that have 1.2 million students. Reuters reported last year Grupo Positivo was trying to sell different units.

$1 = 3.9700 reais Reporting by Tatiana Bautzer

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