Edenred's Ticket wins injunction against Brazil meal voucher rules; government to appeal (updated)
21/01/2026 14:20
Adds VR saying it also got an injunction on the subject SAO PAULO/BRASILIA, Jan 21 (Reuters) - A Brazilian judge has granted an injunction to Edenred-owned EDEN.PA Ticket suspending oversight actions or penalties related to new government rules changing the country's meal voucher system, according to a court document seen by Reuters on Wednesday. The new regulations would cap the fees that merchants pay voucher providers, as part of a broader government effort to modernize the so-called Worker Food Program (PAT). Ticket argues that the rules impose unconstitutional obligations, such as interoperability, mandatory open arrangement for large companies, fee limitations, reduced settlement times, and exclusivity prohibition. The court ruling stated that the government must refrain from inspecting or penalizing Ticket for non-compliance with the obligations. Brazil's Labor Ministry said it would appeal the decision. KEY DETAILS, SHARES REACTION Ticket confirmed in a statement that it had taken legal action related to the PAT changes, adding the rules "should take into account the impacts on companies, workers and establishments." Later on Wednesday, Brazilian privately-owned firm VR said it also got a similar injunction in a separate court decision. Sodexo operator Pluxee PLX.PA and local firm Alelo, which complete the top four leaders of the Brazilian market, are not covered by the decisions. Shares in Edenred and Pluxee jumped following the news. ADDITIONAL BACKGROUND Ticket, Sodexo, Alelo and VR control about 85% of the market, which moves 170 billion reais ($31.76 billion) a year. Edenred warned in November that the changes would cut its core profit forecast for 2026, while Pluxee said in January that it expected its Brazil revenue to halve by 2027. ($1 = 5.3523 reais) (Reporting by Michael Susin, Ricardo Brito, Bernardo Caram and Isabel Teles; Editing by Gabriel Araujo, Iñigo Alexander and Shri Navaratnam) ((Isabel.Teles@thomsonreuters.com;))