CORPORATEBrazil
Afya and Yduqs announce a share-swap merger, with 69% for Afya shareholders and a minimum R$ 750 million dividend for Yduqs holders
Afya and Yduqs announced on the night of September 23, through a material fact, the combination of their businesses by share swap, with no cash payment: Afya shareholders will hold 69% of the combined company and Yduqs shareholders 31%. Afya will be merged into Yduqs, which stays listed on B3, and will leave Nasdaq; Yduqs shareholders will receive a minimum R$ 750 million dividend. The new company will have 1.6 million students and R$ 9.4 billion in revenue over the 12 months to June, with Afya Virgilio Gibbon as chief executive and Bertelsmann Kay Krafft chairing the board. The deal depends on Cade.