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Brazil: Vasta invests in Educbank

São Paulo-based education company Vasta Platform has acquired, via its subsidiary Somos Sistemas de Ensino, a 47.4% stake in Educbank Gestão de Pagamentos Educacionais, also based in São Paulo.

Vasta’s investment totals 158 million reais (£24 million) to be paid in cash instalments totalling 88 million real, according to the growth in the number of students served by Educbank and other conditions, and upon capitalisation of credits arising from the sale of intangible assets by Somos (70 million reais).

Vasta will have the right to appoint two members, out of six, to the board of directors of Educbank.

Educbank provides financial services to K12 schools to facilitate access to a good education in Brazil, through services management and financial support to educational institutions by providing payment guaranty to school tuitions.

Vasta stated that investment will enable it “to capture great value potential in the following years, by tapping the K12 tuitions payment means, which total payment volume surpasses 70 billion reais per year. Educbank’s services complement Vasta’s digital services platform, which provides access to data, management tools and now working capital management, releasing time for school partners to focus on delivering education.”

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