Companhia de Locação das Américas (BOVESPA:LCAM3) signed a term sheet to acquire UNIDAS S.A. from a group of shareholders for BRL 990 million on December 27, 2017. Under the terms of the agreement, Locamerica shall acquire 40.3% stake in Unidas for approximately BRL 400 million in cash. For the remaining stake in Unidas, each common share issued by Unidas shall be exchanged for 1.059096 common shares of Companhia de Locação das Américas, subject to certain adjustments. As such, Companhia de Locação das Américas shall issue, in favor of the shareholders of Unidas, that is, to Gestão de Activos e Consultoria Administrativa e Financeira S.A., Enterprise Holdings Brazil, LLC and Fitpart Capital Partners Ltd., in the total of 34.47 million common shares. Vinci Capital Partners II, L.P., Kinea Private Equity II Fundo de Investimento em Participações and GIF IV Fundo de Investimento em Participações shall sell the entirety and Gestão de Activos e Consultoria Administrativa e Financeira S.A. shall sell part of its stake for cash consideration. Gestão de Activos e Consultoria Administrativa e Financeira S.A. and Enterprise Holdings Brazil, LLC shall become part of the control group, entering into the shareholders’ agreement of Companhia de Locação das Américas. Companhia de Locação das Américas (BOVESPA:LCAM3) agreed to acquire UNIDAS S.A. from a group of shareholders for BRL 1.5 billion. As per revised terms on February 22, 2018, Companhia de Locação das Américas will issue 34.4 million shares and each common share issued by Unidas shall be exchanged for 1.056633 common shares of Companhia de Locação das Américas and will pay BRL 397.9 million in cash. After the consummation of the transaction, Unidas shall retain its own legal personality with its own assets. Companhia de Locação das Américas will change its name to Locamerica-Unidas. In a related transaction, Fitpart shall acquire 9.4% stake in Unidas for BRL 92.9 million. As of January 16, 2018, the Board of Locamerica has approved the issuance of BRL 500 million in debentures in order to raise funds for the acquisition of Unidas. The transaction is subject to the verification of certain conditions precedent including approval by the anti-trust authority, Conselho Administrativo de Defessa Econômica (CADE). As of December 27, 2017, the deal was approved by the Board of Directors of Unidas and Companhia de Locação das Américas. As on January 23, 2018, antitrust council Cade approved the transaction. On March 9, 2018, the transaction has been approved by the shareholders of Companhia de Locação das Américas and UNIDAS at their Extraordinary General Meeting. Banco Itau BBA S.A. acted as financial advisor while Machado, Meyer, Sendacz e Opice acted as legal advisors to Companhia de Locação das Américas. J.P. Morgan acted as financial advisor and Lefosse Advogados acted as legal advisor to Unidas and its shareholders while Trench Rossi e Watanabe acted as legal advisor to Enterprise Holdings Brazil.