Brazil's Cogna plans tender offer to delist Nasdaq-listed subsidiary Vasta
16/09/2025 12:05
SAO PAULO, Sept 16 (Reuters) - Brazilian education firm Cogna Educacao COGN3.SA plans to launch a tender offer to delist its subsidiary, Vasta Platform VSTA.O, according to a securities filing late on Monday. WHY IT'S IMPORTANT Vasta is registered with the U.S. Securities and Exchange Commission and listed on the Nasdaq Global Select Market. Cogna's move to delist Vasta could have implications for investors and the firm's financial outlook. BY THE NUMBERS The tender offer targets up to all outstanding Class A common shares of Vasta, except those already held by Cogna, at a proposed purchase price of $5.00 per share. The stock closed at $4.85 on Monday. CONTEXT Vasta is a provider of education solutions for private schools and has been listed on the Nasdaq since its initial public offering in 2020. Earlier on Monday, Brazilian newspaper Valor Economico reported Cogna's delisting plans, citing sources. WHAT'S NEXT Cogna did not specify a date for the tender offer but said it would occur in the near term, with filings to the SEC and subsequent regulatory compliance by Vasta expected once the offer begins. The delisting process will follow U.S. regulatory requirements. (Reporting by Isabel Teles; Editing by Aida Pelaez-Fernandez and Kim Coghill) ((Isabel.Teles@thomsonreuters.com;))