Bertelsmann plans merger of Brazil’s Afya and YDUQS to expand education business

Bertelsmann plans merger of Brazil’s Afya and YDUQS to expand education business.

• Afya agreed to merge with Brazilian higher-education provider YDUQS, creating a group with about EUR 1.6 billion in revenue.
• The combined company would serve more than 900,000 students, including 40,000 in medicine and 440,000 online students.
• The agreed share-exchange implies 69% ownership for Afya holders and 31% for YDUQS holders, leaving Bertelsmann with 47%.
• The merged group will remain listed on B3’s Novo Mercado, with headquarters in Rio de Janeiro.
• Afya CEO Virgilio Gibbon is set to lead the combined company, and Bertelsmann Education Group CEO Kay Krafft will be chairman.