The combination of companies will result in a network of 483 stores. Completion of the operation still depends on Cade’s approval and due diligence
Cobasi and Petz have reached an agreement for a possible merger. The information was announced through a material fact sent to the Securities and Exchange Commission (CVM) and released this Friday (19).
According to the measure published by Petz, the combination of companies will result in a network of 483 stores, divided into around 20 states, and will achieve gross revenue of approximately R$6.9 billion.
“The Operation will involve the union of two companies with similar business models and strategic directions, with the strengthening of omnichannel on the combined platform, gains in scale and enhancement of the commercial strategy”, pointed out the document.
The relevant fact also explained that the new company will be divided equally between Petz and Cobasi shareholders and that Petz investors will receive R$450 million upon completion of the operation.
The completion of the operation still depends on the fulfillment of certain conditions, such as approval by Cade (Administrative Council for Economic Defense) and due diligence.
