HAPVIDA PARTICIPAÇÕES E INVESTIMENTOS S.A. By Jeffrey T. Lewis
SAO PAULO--Notre Dame Intermedica Participacoes S.A.'s shares were up 7.6% at 68.84 reais, the equivalent of $12.11, and Hapvida Participacoes e Investimentos S.A.'s shares were up 6.3% at 12.07 reais after Brazilian competition authorities approved the merger of the two insurers.
The benchmark Ibovespa stock index was up 0.9% at the same time.
Shares of Intermedica and Hapvida both rose to three-week highs in early trading before giving up some of those gains, with the former hitting 71.96 reais and the latter reaching 12.70 reais.
Hapvida said Thursday morning Brazilian authorities approved the combination with no restrictions. The new company will be the country's biggest provider of health insurance policies.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
12-16-21 0924ET
