Samuel Young (General Superintendent)

Vitru Limited Received Final Antitrust Clearance for the Investment by Crescera

Retrieved on: 
Tuesday, November 8, 2022
GLOBE, Nature, Date, Eastern Time Zone, Administrative Council, Education, Administrative Council for Economic Defense, Sale, International investment agreement, Exercise, Samuel Young (General Superintendent), Security (finance), Vitrue, Inc.

The closing of Cresceras investment in Vitru is expected to take place in the fourth quarter of 2022, subject to customary closing conditions.

Key Points: 
  • The closing of Cresceras investment in Vitru is expected to take place in the fourth quarter of 2022, subject to customary closing conditions.
  • Pursuant to the Investment Agreement, Crescera has agreed to subscribe for 3,636,363 new common shares to be issued by Vitru for a total consideration of R$300 million, equivalent to US$58.3 million based on the applicable exchange rate pursuant to the Investment Agreement, or approximately US$16.02 per common share.
  • 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 learningexperience for undergraduates and continuing education students.

Vitru Limited Received Antitrust Approval for its Investment Agreement with Crescera

Retrieved on: 
Monday, October 24, 2022
Samuel Young (General Superintendent), Official Gazette, Education, Union, Administrative Council for Economic Defense, Administrative Council, International investment agreement, US, Legislation, Nature, GLOBE, Security (finance), CADE, Vitrue, Inc.

FLORIANPOLIS, Brazil, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Vitru Limited, or Vitru (Nasdaq: VTRU), announced today that the General Superintendence of CADE (Administrative Council for Economic Defense Brazilian antitrust authority) has approved, without any restrictions, the investment agreement with Crescera Growth Capital Master V Fundo de Investimento em Participaes Multiestratgia and Crescera Growth Capital V Coinvestimento III Fundo de Investimento em Participaes Multiestratgia (Crescera and Investment Agreement, respectively).

Key Points: 
  • FLORIANPOLIS, Brazil, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Vitru Limited, or Vitru (Nasdaq: VTRU), announced today that the General Superintendence of CADE (Administrative Council for Economic Defense Brazilian antitrust authority) has approved, without any restrictions, the investment agreement with Crescera Growth Capital Master V Fundo de Investimento em Participaes Multiestratgia and Crescera Growth Capital V Coinvestimento III Fundo de Investimento em Participaes Multiestratgia (Crescera and Investment Agreement, respectively).
  • The Closing of the referred transaction is still subject to the fulfillment of other conditions precedent, determined upon the execution of the Investment Agreement and is expected in the fourth quarter of 2022.
  • approximately the same US$ price to be paid by Crescera for the common shares it is acquiring pursuant to its investment.
  • Through its invested companies, Vitru provides a complete pedagogical ecosystem focused on hybrid distance learningexperience for undergraduates and continuing education students.

Vitru Limited Received Final Approval for its Business Combination with Unicesumar

Retrieved on: 
Wednesday, May 18, 2022
Samuel Young (General Superintendent), Education, International, Administrative Council, Webcast, Administrative Council for Economic Defense, Nature, Official Gazette (Philippines), Official Gazette, GLOBE, CADE, Vitrue, Inc.

FLORIANPOLIS, Brazil, May 18, 2022 (GLOBE NEWSWIRE) -- Vitru Limited, or Vitru (Nasdaq: VTRU), announced today that the antitrust approval of its proposed business combination with CESUMAR Centro de Ensino Superior de Maring Ltda, or Unicesumar, has become final and definitive.

Key Points: 
  • FLORIANPOLIS, Brazil, May 18, 2022 (GLOBE NEWSWIRE) -- Vitru Limited, or Vitru (Nasdaq: VTRU), announced today that the antitrust approval of its proposed business combination with CESUMAR Centro de Ensino Superior de Maring 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 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, Participaes e Comrcio S.A. will own 100% of the total share capital of Unicesumar.

Vitru Limited Received Antitrust Clearance for its Business Combination with Unicesumar

Retrieved on: 
Saturday, April 30, 2022
Official Gazette, CEO, Time, Samuel Young (General Superintendent), Education, GLOBE, INEP, Student, Administrative Council for Economic Defense, Official Gazette of the Republic of Tunisia, MEC, Administrative Council, Nature, Review, Risk management, Vitrue, Inc., CADE

12,529/2011, there is an additional 15-day waiting period for CADE's decision to become final.

Key Points: 
  • 12,529/2011, there is an additional 15-day waiting period for CADE's decision to become final.
  • Once the waiting period expires and to the extent no review is requested, the business combination can close and we will begin to integrate the activities of Unicesumar with 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 learningexperience for undergraduates and continuing education students.