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Hapvida (HAPV3) withdraws from acquisition of Plamed, says Cade

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“The applicants inform that they have withdrawn from the operation that is the object of this merger, requesting the filing of this fact without judgment on the merits” (Image: Disclosure/Hapvida)

the health operator hapvida (HAPV3) withdrew from the acquisition of the health plan Plamedbased in Aracajú (SE), according to an order from the Administrative Council for Economic Defense (Where) in this Wednesday’s Official Gazette.

“The applicants inform that they have withdrawn from the transaction object of this merger, requesting the filing of this fact without judgment on the merits”, points out an order from the antitrust regulator signed by counselor Luiz Augusto Azevedo, rapporteur of the case.

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The acquisition of Plamed was announced by Hapvida in 2019 for 57.5 million reais, but at the end of last year it was barred by CADE’s Tribunal, as the merger control agreement, which conditioned approval to the sale of assets, was declared non-compliant.

Hapvida and Plamed then reintroduced the deal to Cade this year, with a new format for asset sales needed.

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Hapvida did not immediately respond.

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Source: Moneytimes

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