Afya agrees merger with Yduqs
- Afya (NASDAQ:AFYA) agreed to merge with Yduqs Participações S.A. to create a combined Brazilian higher education company.
- Afya shareholders are expected to own 69% of the combined company, while existing Yduqs shareholders will own 31%.
- The transaction remains subject to shareholder approvals, Brazilian antitrust approval, and other closing conditions.
Afya (NASDAQ:AFYA) entered a binding merger agreement with Yduqs Participações S.A. to combine the two Brazilian higher education companies.
Under the agreement, Afya will merge into Yduqs, with Yduqs continuing as the surviving entity and becoming the holding company for the combined group.
The transaction structure would result in Afya shareholders owning 69% of the combined company on a fully diluted basis, while existing Yduqs shareholders would own 31%.
The combined company’s common shares are expected to remain listed solely on B3 S.A. – Brasil, Bolsa, Balcão under the Novo Mercado segment, while Afya’s Nasdaq-listed Class A common shares would be delisted after completion.
The merger remains subject to shareholder approvals, Brazilian antitrust approval, third-party consents, and other customary closing conditions.
