Lobo de Rizzo and Machado Meyer in education sector acquisition
Lobo de Rizzo Advogados has helped education investors Arco acquire school content provider Sistema Positivo de Ensino for 1.6 billion Brazilian reais (US$410 million).
The sellers, Grupo Positivo, hired Machado Meyer Advogados. The deal was announced on 7 May and needs antitrust clearance. Arco will pay 50% of the total acquisition price when the transaction closes. The remainder will be settled in yearly instalments lasting until 2024.
The acquisition means Arco will serve another 3,000 private schools and their 650,000 pupils. Listed on the Nasdaq in 2018, its complete portfolio covers 4,800 schools and 1.2 million students. Its main competitor in the sector is Somos, which was acquired by Brazilian education conglomerate Kroton in 2018 for US$920 million.
Grupo Positivo retains the bulk of its business, including the school and universities they own. The group will also keep a company that provides similar education services to those provided by Arco, but which serves public schools instead.
Counsel to Grupo Arco
Lobo de Rizzo Advogados
Counsel to Grupo Positivo
Machado Meyer Advogados
Parnters Arthur Bardawil Penteado, Elton Minasse, Luciana Costa Engelberg and Maria Eugenia Novis, and associates Beatriz Medeiros Navarro Santos, Mariana Meditsch and Tatiana Machado Soares
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