CADE rejects the merger between companies Kroton and Statius

BRASILIA-the Administrative Council for economic Defense (Cade) failed on Wednesday to purchase the University Estácio for Kroton, announced in June last year. This is one of the biggest operations ever vetoed by the Council.
In a trial that lasted more than 6 hours, five Councillors voted for the rejection. The rapporteur, Cristiane Adviser Alkmin, voted for approval of the case with restrictions that would include the sale of the brand Anhanguera and a package with 258,000 students. Ashlie advisors Alexandre Cordeiro, João Araújo, Paulo de Resende and Paulo Burnier voted against, as well as the President of Cade, Alexandre Barreto, who took office last week.
The acquisition of Estacio was announced by Kroton by R $5.5 billion and would create a group with market value of R $30 billion. In 2013, Kroton had already purchased the Anhanguera, creating the largest group of education in the country.