Multi-billion merger between Localiza and Unidas faces strong opposition in CADE

When the transaction between the two car rental groups was announced, the companies together were worth R$50 billion on the Brazilian B3 stock exhange.

RIO DE JANEIRO, BRAZIL - The Administrative Council for Economic Defense (CADE) has already issued 44 notices to companies doing business or competing with the merging car rental companies, requesting input on the effect upon competition of the merger.

The merger between Localiza and Unidas, approved by both companies' shareholders last November, is facing strong opposition inside the federal antitrust agency.

Although the deadline for submitting arguments to the agency expires only on March 5th, this fact is taken as certain by people close to the operation.

When the transaction was announced, the companies together were worth R$50 billion on . . .

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