Localiza, Unidas close to assets sale to win merger approval -report

Published 02/23/2022, 06:10 AM
Updated 02/23/2022, 07:06 AM
© Reuters
BAC
-

SAO PAULO (Reuters) -Brazilian rental car firms Localiza and Unidas, formally known as Companhia de Locacao das Americas, are close to selling assets to win approval from antitrust watchdog Cade for their merger, newspaper O Estado de S. Paulo reported on Wednesday.

The assets could fetch around 4 billion reais ($791 million) and the sale is being managed by the investment banking arm of Bank of America (NYSE:BAC), the newspaper reported, citing people with knowledge of the matter.

Among the companies interested are rental car companies Ouro Verde, Turbi and private equity firm Advent International, the paper said.

Localiza, Unidas, and Bank of America did not immediately respond to requests for comment.

Ouro Verde, Turbi and Advent declined to comment.

($1 = 5.0583 reais)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.