Kroton Educacional S.A. (BM&FBovespa: KROT3 or 'Kroton') and Estácio Participações S.A. (BM&FBovespa: ESTC3 or 'Estácio' and, jointly with Kroton, the 'Companies'), hereby inform to their respective shareholders and the market in general the latest developments in the process of approval by Brazil's Antitrust Agency ('CADE') of the business combination between the Companies (the 'Operation'), as follows:
a) as per the Material Fact notice disclosed by the Companies on February 6, 2017, the phase of analysis of the case by the General Superintendence of CADE was concluded and the case was forwarded to the Court of Appeals of CADE;
b) on this date, April 5, 2017, in accordance with the request made by the Companies as set forth in Article 88, Paragraph 9, I of Federal Law 12,529/2011, the Court of Appeals of CADE extended the analysis phase by sixty (60) days, and the proceeding is to be concluded up to June 27, 2017. This deadline can still be extended by another thirty (30) days maximum, through a justified decision of CADE; and
c) the Court of Appeals of CADE is not obliged to use the full legal timeframe for analysis and could announce its decision before the date mentioned in item b) above.
The Companies will continue to cooperate with each other with the objective of concluding the Operation, pursuant to the Agreement and Plan of Merger of the Shares Issued by Estácio with Kroton, and in the best interest of the Companies, their shareholders and the academic community in general, and will keep their shareholders and the market in general informed of further developments in this matter.
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 05 April 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 April 2017 22:33:14 UTC.
Original documenthttp://ri.kroton.com.br/kroton2010/web/conteudo_en.asp?idioma=1&tipo=32840&conta=44&id=240640
Public permalinkhttp://www.publicnow.com/view/119FB005BAF7CB541C85DCE32C61C1418319CF84
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 
