Brazil's Kroton, Anhanguera changing terms of merger

Reuters

SAO PAULO, May 7 (Reuters) - Kroton Educacional SA and Anhanguera Educacional Participações SA , the Brazilian for-profit education companies that plan to combine, agreed on Wednesday to change the terms of the transaction, according to a securities filing.

Kroton will offer 0.30970293 of its own share for one share of Anhanguera. Kroton also agreed to distribute up to 100 percent of net income as dividend payouts through the first quarter of this year, setting a cap of 483 million reais ($217 million), the filing added.

($1 = 2.23 Brazilian reais) (Reporting by Guillermo Parra-Bernal and Cesar Bianconi; Editing by Jeffrey Benkoe)

View Comments (0)