Bloomberg News

Kroton Rallies Most Since August After Deal: Sao Paulo Mover

May 29, 2012

Kroton Educacional SA (KROT11), a Brazilian education company, gained the most in nine months after announcing a seventh acquisition in a year.

Units gained 5.1 percent to 28.80 reais at 2:15 p.m. in Sao Paulo, the highest level on a closing basis since May 8. The increase was the biggest since Aug. 30.

Kroton said in a regulatory filing today that its unit Editora e Distribuidora Educacional SA acquired Grupo Uniasselvi for 510 million reais ($255 million).

Estacio Participacoes SA (ESTC3), a competitor, also announced an acquisition, saying in a regulatory filing yesterday that it agreed to buy UB Unisaoluis Educacional SA for 28 million reais in cash and debt.

Estacio was little changed, while Anhanguera Educacional Participacoes SA (AEDU3) jumped 3.3 percent.

To contact the reporter on this story: Katerina Petroff in Sao Paulo at kpetroff@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net


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