Brazil’s antitrust body approves Brookfield purchase of Localiza, Unidas assets

SAO PAULO (Reuters) – Brazil’s antitrust watchdog has given an funding fund managed by Canada’s Brookfield Asset Administration the greenlight to buy property from rental automotive corporations Localiza and Unidas, the corporations stated on Wednesday.

The sale was ordered by the antitrust regulator in late 2021 as a situation for the merger between Localiza Lease a Automotive SA and Unidas, formally often called Companhia de Locacao das Americas.

They now count on to shut their merger on July 1, in line with a joint securities submitting.

Localiza and Unidas introduced the cope with Brookfield, which controls rival agency Ouro Verde in Brazil, earlier this month.

The deal contains the sale of round 49,000 autos for 3.57 billion reais ($687.27 million).

($1 = 5.1945 reais)

(Reporting by Carolina Pulice and Gabriel Araujo; Enhancing by David Alire Garcia, Leslie Adler and Marguerita Choy)