CADE approves purchase of Sami by Are Education

SAO PAULO-the Administrative Council for economic Defense (Cade) approved without restrictions on acquisition of business content for education of editora Saraiva by Are education, current name of April education.
According to opinion of Cade, the operation is structured the acquisition through Attica, subsidiary of Are education, all hail Education quotas held by Sami and Sicilian.
Somos Education is controlled indirectly by resource manager Tarpon and has, along with its subsidiaries, activities dedicated to basic education, language education and training to the labour market.
Hail already publishes and markets content back to education. The Group also has retail activities, including e-commerce, products related to culture, leisure and entertainment, that will not be acquired by Are education.
"The operation will allow the entry of Are content segment Education focused on higher education, in which the Sami have a presence," said Cade in opinion, completing that companies understand that integration can create any opportunity to exploit higher education system.
Cade identified that the operation may result in vertical integration in education systems, language courses, textbooks and books, graphic editing, among others. However, the Court concluded that the operation does not raise competition concerns.
The 725 million deal, announced in June, will be financed by the box Are Education as well as for loans, after absorbing debt of about 250 million reais of Sami education, value to be confirmed at the closing of the operation.