a) yesterday, December 5, 2016, the General Superintendence of CADE declared the operation complex for the conduction of the following diligences: (i) requesting CADE's Department of Economic Studies (DEE) to prepare a quantitative study regarding the impacts on competition as a result of the operation, (ii) entitling the Companies to provide economic efficiencies generated by the operation, and (iii) requesting data from competitors and waiting for other information previously requested and currently pending response.
b) the declaration of complexity is a procedural act provided for in Article 56 of Federal Law no. 12,529/2011 and grants CADE's Court the right to extend, in the future, as deemed necessary and based on a grounded decision, the term for analyzing the operation by up to 90 days (increasing the period from 240 to 330 days).
c) the declaration of complexity has already been used by the General Superintendence of CADE in other opportunities, including on the occasion of its analysis of the merger between Kroton Educacional S.A. and Anhanguera Educacional Participações S.A., and does not represent an immediate extension of the period, which is still 240 days.
d) the Companies notified CADE of the Operation on August 31, 2016, and since then have been fully cooperating with the agency to obtain approval for the Operation within the legal timeframe.
For further information on this matter, the Companies inform that all public documents regarding the Operation are available on CADE's website (www.cade.gov.br), 'Act of Concentration' (Ato de Concentração) no. 08700.006185/2016-56.
The Companies will keep their shareholders and the market informed of any developments regarding the subject matter of this Notice.
To access the Notice to Shareholders, please, click here.
For more information, please contact our investor relations department:
Carlos Lazar - Director
Pedro Gomes - Manager
Ana Troster - Coordinator
Kroton Educacional SA published this content on 06 December 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 December 2016 14:00:10 UTC.
Original documenthttp://ri.kroton.com.br/kroton2010/web/conteudo_en.asp?idioma=1&tipo=32840&conta=44&id=235898
Public permalinkhttp://www.publicnow.com/view/A47A4ACF555704DB0B3BF46EA1848CDA0755A405
Cogna Educacao SA, formerly Kroton Educacional SA, is a Brazil-based company active in the private education sector. The Company focuses on developing primary and secondary schools, post-secondary and undergraduate programs, as well as vocational courses. The Company's activities are divided into three business segments: In-class higher education, which offers port-secondary programs on campus; Distance learning higher education (EAD), which provides port-secondary programs via online platform, and Basic education, which includes own and managed primary schools, collection and development of teaching materials, school management advisory, as well as educational support tools, among others. The Company operates a number of brand names, such as Anhanguera, Fama, Pitagoras, Unic, Unime and Unopar. In addition, it is involved in the wholesale, retail, distribution, import and export of textbooks, course books, magazines and other publications related to education.
COGNA EDUCAÇÃO 
