Brazil Education Giant Back in M&A Game With $590 Million Raise
Brazil’s largest for-profit education company raised about 2.56 billion reais ($590 million) in a sale of the firm’s shares, a move to cut debt and pave the way for new acquisitions.
Cogna, formerly known as Kroton, offered a total of 232.4 million shares, including an additional allotment, with stock priced at 11 reais each, the company said in a regulatory filing Wednesday, confirming an earlier report by Bloomberg.
By Vinicius Andrade and Rachel Gamarski via Bloomberg