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

SAO PAULO (Reuters) – Brazil’s antitrust watchdog has given an investment fund managed by Canada’s Brookfield Asset Management the greenlight to purchase assets from rental car companies Localiza and Unidas, the firms said on Wednesday.

The sale was ordered by the antitrust regulator in late 2021 as a condition for the merger between Localiza Rent a Car SA and Unidas, formally known as Companhia de Locacao das Americas.

They now expect to close their merger on July 1, according to a joint securities filing.

Localiza and Unidas announced the deal with Brookfield, which controls rival firm Ouro Verde in Brazil, earlier this month.

The deal includes the sale of around 49,000 vehicles for 3.57 billion reais ($687.27 million).

($1 = 5.1945 reais)

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