Vitru Limited Received Final Approval for its Business Combination with Unicesumar
18 Mai 2022 - 3:23PM
Vitru Limited, or Vitru (Nasdaq: VTRU), announced today that the
antitrust approval of its proposed business combination with
CESUMAR – Centro de Ensino Superior de Maringá Ltda, or
“Unicesumar,” has become final and definitive.
On April 29, 2022 Vitru had announced that its
proposed business combination with Unicesumar had received a
recommendation of approval of the General Superintendence of CADE
(Administrative Council for Economic Defense – Brazilian antitrust
authority). The decision was published in the Official Gazette on
May 2, 2022. According to Law No. 12,529/2011, there was an
additional 15-day waiting period following publication for CADE's
decision to become final. This additional waiting period expired on
May 17, 2022, and the decision is now final and definitive.
The closing of the business combination is
expected to take place on May 20, 2022, following which we will
begin to integrate the activities of Unicesumar with those of
Vitru. Through the proposed business combination, Vitru – through
its wholly-owned subsidiary Vitru Brasil Empreendimentos,
Participações e Comércio S.A. – will own 100% of the total share
capital of Unicesumar.
Vitru will host a webcast and conference call to
provide additional information regarding the integration process on
May 19, 2022 at 8:30 a.m. Eastern time (9:30 a.m. Brasília
time).
Investors may listen to the conference call by dialing in to
+1(844) 204-8942 (U.S. Toll-Free), +1(412) 717-9627
(International), or +55(11) 4090-1621 (Brazil), password:
Vitru.
A live and archived webcast of the call will be available on the
Events section of Vitru’s Investor Relations website
at https://investors.vitru.com.br.
About Vitru
Vitru is the leading pure distance learning
education group in the postsecondary distance learning market in
Brazil. Through its invested companies, Vitru provides a complete
pedagogical ecosystem focused on hybrid distance
learning experience for undergraduates and continuing
education students.
Vitru’s mission is to democratize access to
education in Brazil through a digital ecosystem and empower every
student to create their own successful story.
Forward Looking Statements
This press release includes “forward-looking
statements” within the meaning of the U.S. federal securities laws.
Statements contained herein that are not clearly historical in
nature are forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” “may,” or similar
expressions are generally intended to identify forward-looking
statements. These forward-looking statements speak only as of the
date hereof and are based on Vitru’s current plans, estimates of
future events, expectations and trends that affect or may affect
our business, financial condition, results of operations, cash
flow, liquidity, prospects and the trading price of Vitru’s common
shares, and are subject to several known and unknown uncertainties
and risks, many of which are beyond Vitru’s control. As a
consequence, current plans, anticipated actions and future
financial position and results of operations may differ
significantly from those expressed in any forward-looking
statements in this press release. You are cautioned not to unduly
rely on such forward-looking statements when evaluating the
information presented. Vitru does not undertake any obligation to
update publicly or to revise any forward-looking statements after
we distribute this press release because of new information, future
events, or other factors.
Contact:
Maria Carolina F. Gonçalves, IROwebsite:
https://investors.vitru.com.br/
e-mail: ir@vitru.com.br
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