Kroton Educacional : Material Fact - Status of CADE Approval Process
February 06, 2017 at 11:47 am EST
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Estácio Participações S.A. (BM&FBOVESPA: ESTC3; OTCQX: ECPCY) and Kroton Educacional S.A. (BM&FBovespa: KROT3 or 'Kroton' and, jointly with Estácio, the 'Companies'), in compliance with CVM Instruction 358/02, hereby inform their respective shareholders and the general market of developments in the approval process by Brazil's antitrust agency CADE ('CADE') of the business combination of the Companies, as follows:
a) on Friday, February 3, 2017, after the close of trading on the São Paulo Stock Exchange (BM&FBOVESPA), the analysis phase of the case by CADE's General Superintendence ('SG') was concluded, with the process now being sent, in accordance with the procedure set forth in Article 57, II of Federal Law 12,529/2011 and in the Charter of CADE, to CADE's Court of Appeals in the coming days;
b) in accordance with the non-binding opinion ('Opinion') and with the communication published by CADE's social communication advisor on said date ('Communication'), the SG identified anti-trust concerns, for which reason, in accordance with the procedure established by law for such cases, it submitted its objection to CADE's Court of Appeals, so that said body can evaluate, based on its judgment, the upholding of the recommendation made by the SG or any other applicable remedies;
c) as a result of the above events and in the best interest of their respective Companies, shareholders and the academic community in general, the managers of the Companies continue to accompany the situations and are analyzing the effects of the Opinion and of the Communication on the potential combination of the businesses of the Companies as well as all the potential results and alternatives from the various existing viewpoints.
For more information on this matter, the Companies inform that the entire contents of the Technical Opinion of the SG and of the Communication are available on the CADE 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 further developments in this matter.
Kroton Educacional SA published this content on 06 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 February 2017 16:47:11 UTC.
Original documenthttp://ri.kroton.com.br/kroton2010/web/conteudo_en.asp?idioma=1&tipo=32840&conta=44&id=238779
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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 
