SAO PAULO (Reuters) -Brazil’s antitrust body Cade is set to approve this week, without restrictions, the merger of two retailers of products for pets, Cobasi and Petz, local news outlet Brazil Journal reported on Monday, citing sources. An approval could mark Cade’s final green light for the merger, but only if no appeal is filed […]
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Brazil’s antitrust body to approve Petz, Cobasi merger, local media reports
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SAO PAULO (Reuters) -Brazil’s antitrust body Cade is set to approve this week, without restrictions, the merger of two retailers of products for pets, Cobasi and Petz, local news outlet Brazil Journal reported on Monday, citing sources.
An approval could mark Cade’s final green light for the merger, but only if no appeal is filed within 15 days. If this happens, the case could be decided by an internal Cade panel.
Cade, Petz and Cobasi did not immediately respond to a request for comment outside normal business hours.
The cash and share swap deal, which is set to join together Brazil’s two largest pet product retailers, was first announced in April last year.
Brazil Journal said the approval was expected as together the two firms would nevertheless count on a low market share.
(Reporting by Andre Romani and Patricia Vilas Boas; Editing by Sarah Morland)