Brazil's YDUQS signs binding merger deal with Afya
AFYA•YDUQS and Nasdaq-listed Afya signed a binding agreement to combine their businesses. Afya shareholders will own 69% of the combined company and existing YDUQS shareholders 31%; completion is due no later than March 31, 2028, subject to extension provisions.
1. Merger terms
Afya will merge into YDUQS, which will survive as the holding company of the combined group and remain listed on Brazil's B3 exchange. On a fully diluted basis, Afya shareholders will own 69% and existing YDUQS shareholders 31%; Afya controlling shareholder Bertelsmann will hold about 47.4%.
2. Completion timeline
The transaction is to be completed no later than March 31, 2028, subject to the agreement's extension provisions. The companies said last month they were in talks over a potential business combination.
