Afya Limited acquired FASA for R$201.6 million.
On April 3, 2019, Afya Brazil acquired control of Instituto Educacional Santo Agostinho S.A. (FASA) through the purchase of 90% of its shares. FASA is a post-secondary education institution with campuses in the states of Bahia and Minas Gerais offering on-campus undergraduate medicine courses. The R$201,565 thousand price comprised R$102,330 thousand cash at close plus installments payable in April 2020, 2021 and 2022; a roll-up of FASA's minority shareholders was concluded on June 14, 2019.
The transaction was strategic to the Company, expanding its undergraduate medical-school footprint; the goodwill recognized reflected expected synergies from the acquisition.
Advisory firms were not disclosed for this transaction.