Locamerica acquisition of 33.7% stake in Auto Ricci

Overview:

• Locamerica, a publicly-listed Brazilian car rental company company, has acquired a 33.7% stake in Auto Ricci, another Brazilian car rental company, from the shareholders of Auto Ricci.
• This will be done through the issue of one common share of Locamerica for every 1.91 common shares issued by Ricci.
• The deal will result in the formation of one of the largest car rental companies in the country.
• Banco do Brasil acted as financial adviser to the Locamerica. 
• Banco Votorantium acted as financial adviser to Auto Ricci. 

Rani Mehta - Journalist