Cade Superintendency Recommends Approval of Sale of Unidas Assets to Brookfield – Época Negócios

Headquarters of Canadian company Brookfield (Photo: Disclosure)

The General Superintendence of Economic Defense Board of Directors (Cade) recommended the approval of the sale of the assets of the car rental company Unidas to the Canadian manager Brookfield, which controls its rival Ouro Verde, according to an order published in the Official Journal of the Union on Wednesday.

+ Cade gives approval to Brookfield to buy assets and Localiza-Unidas merger will be finalized in July

The sale is part of the merger of Unidas by Localiza, a company that brings together the two largest companies in the sector in the country. The disposal of assets, including 49,000 cars, was determined by the antitrust authority as a condition of the agreement’s approval.

Last week, the Cade court approved the name of Brookfield as the acquirer of the assets, a step in evaluating the merger between Unidas and Localiza. Even so, the transaction between the rental company and the manager also requires separate approval from the agency.

Localiza and Unidas expect to complete the combination on July 1, the two companies said in a joint material fact last week.

The closing of the sale of the assets to Brookfield is subject to other conditions, such as confirmation of approval by Cade.

Elmer Hayward

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