CADE extends deadline for merger analysis between Kroton and Statius

São Paulo – the Court of the Administrative Council for economic Defense (Cade) extended by 30 days the period of review of the merger between Kroton Educacional and Estácio Participações, informed the companies in a statement to the market on Wednesday.
As a result, the deadline for completion of the process became 27 July 2017, according to the document.
Separately, Kroton reported that there is still no agreement with Cade on possible divestitures required for approval of the combination of business with Statius.
On Monday, Reuters reported that the trial had been postponed to the Cade on June 28, after the Secretary and Rapporteur of the case on the city flag hard remedies for fusion release. Among the alternatives, it would have proposed the sale of Anhanguera, or even of the entire brand Statius said sources told Reuters.