Brazil's No. 1 college operator Kroton Educacional SA has teamed up with an unidentified domestic lender to broaden financing alternatives other than state-backed loans, a sign it is preparing for a potential economic recovery by attracting more students. The joint venture, which aims to offer financing instruments for students other than the state program known as Fies, could be launched as early as next year, Chief Executive Officer Rodrigo Galindo and company executives said on Monday at an event. Kroton, which last quarter agreed to buy rival Estácio Participações SA, expects the venture to help mitigate financing-related risks ahead of completion of the deal, Chief Financial Officer Frederico Abreu said.
- Capital Cube•5 days ago
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- Reuters•7 days ago
The chief executive of Brazil's No. 1 education firm Kroton Educacional said on Tuesday he expects the share of government-backed FIES student loans to stabilize at around 9 to 12 percent of the company's student population. Kroton CEO Rodrigo Galindo said that FIES provided financing for 63 percent of incoming students in the second semester of 2014, but that fell to 9 percent of incoming students for the second semester of 2016.
Kroton Educacional S.A. (KROT3.SA)
Sao Paolo - Sao Paolo Delayed Price. Currency in BRL
|Day's Range||15.31 - 16.32|
|52wk Range||7.43 - 17.08|
|1y Target Est||N/A|
|P/E Ratio (ttm)||15.06|
|Avg Vol (3m)||8,079,207|
|Dividend & Yield||N/A (N/A)|