Reuters logo
Brazil's Estácio removes CEO Thompson from merger discussion group
March 17, 2017 / 1:28 PM / 9 months ago

Brazil's Estácio removes CEO Thompson from merger discussion group

SAO PAULO, March 17 (Reuters) - Brazil’s Estácio Participações SA said on Friday that it had removed Chief Executive Officer Pedro Thompson from a group discussing terms of a sale to larger rival Kroton Educacional SA but denied a newspaper report suggesting he was working against the deal.

Estácio made the statements in a securities filing. Newspaper Valor Econômico, citing unnamed people familiar with the matter, said Estácio’s board opened a formal probe into an anonymous tip suggesting that Thompson was working against the deal.

$1 = 3.1075 reais Reporting by Ana Mano; Editing by Lisa Von Ahn

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below