Brookfield Asset Management Inc. (TSX:BAM.A) signed an agreement to acquire Rent-a-Car and Used Vehicle Assets from Companhia de Locação das Américas (BOVESPA:LCAM3) for BRL 3.57 billion on June 13, 2022. The transaction includes approximately 49,000 cars, of Unidas subsidiaries. The disposal of these assets had been determined by the Administrative Council for Economic Defense (Cade) as a condition for the approval of the business combination between Localiza and Unidas.

The closing of the Transaction is subject to the fulfillment of the approval of the Buyer by the CADE Administrative Court, approval of the Transaction by CADE, the consummation of the Business Combination, carrying out a corporate reorganization of Unidas' subsidiaries and other suspensive conditions usual in transactions of this nature. Scotiabank, BTG and Citi acted as financial advisors and lenders to Brookfield Asset Management in the Transaction. Bank of America acted as financial advisor to Companhia de Locação das Américas.

Pinheiro Neto Advogados, Machado, Meyer, Sendacz e Opice and Vinicius Marques de Carvalho Advogados acted as legal advisors to Companhia de Locação das Américas. Cescon, Barrieu, Flesch & Barreto Advogados acted as legal advisor to Brookfield Asset Management. As on June 23, 2022, Brazil's antitrust as approved the transaction.

Transaction is expected to close on July 1, 2022.