Brazil's YDUQS signs binding merger deal with Afya (updated)

Bertelsmann SE & Co KGaA

24/09/2026 11:27

Updates September 23 story with Afya statement
SAO PAULO, Sept 24 (Reuters) - Brazilian education firm YDUQS YDUQ3.SA and Nasdaq-listed Afya AFYA.O signed a binding merger agreement to combine their businesses, Afya said in a statement late on Wednesday. 
Afya will merge into Yduqs, which will survive as the holding company of the combined group and remain listed on Brazil's B3 stock exchange.
Afya shareholders will own 69% of the combined company, while existing Yduqs shareholders will own 31% on a fully diluted basis.
Afya's controlling shareholder, Bertelsmann, will hold about 47.4% of the combined company following the merger.
Transaction to be completed no later than March 31, 2028, subject to the agreement's extension provisions.
The companies had said last month they were in talks over a potential business combination.
Brazilian newspaper O Globo first reported the move on Wednesday.

 (Reporting by Andre Romani in Sao Paulo; Additional reporting by Dey Mrinmay; Editing by Fernando Cardoso and Mark Potter)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))