Cade superintendent recommends approval of sale of Unidas assets to Brookfield – Money Times

Localiza and Unidas plan to complete the combination on July 1, the two companies said in a joint material fact last week (Image: Money Times/Gustavo Kahil)

THE General Superintendence of the Administrative Council for Economic Defense (Cade) recommended the approval of the sale of the assets of the car rental company United (LCAM3) to Canadian manager Brookfield, who controls his rival Ouro Verde, according to a decree published in the Official Journal on Wednesday.

The sale is part of the merger of Unidas by Locate (RENT3), 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 approval of the agreement.

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.

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Elmer Hayward

"Pop culture fan. Coffee expert. Bacon nerd. Infuriatingly humble communicator. Friendly gamer."

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