JSL S.A. has entered into the purchase and sale agreement to acquire Unitum Participações S.A. for an enterprise value of approximately BRL 590 million.

JSL S.A. (BOVESPA:JSLG3) has entered into the purchase and sale agreement to acquire Unitum Participações S.A for an enterprise value of approximately BRL 590 million on March 8, 2023. Under the agreement it provides BRL 338 million of Equity Value out of which BRL 100 million will be retained on this date as a guarantee for possible indemnities, and the remaining balance will be paid as follow, BRL 60 million on the closing date of the Transaction and BRL 179 million on 4 annual installments of approximately BRL 45 million, all of which are restated by 90% of the CDI between this date and the date of effective payment. The transaction still need Administrative Council for Economic Defense approval and JSL S.A. n Extraordinary General Meeting.

IC will continue to operate independently with its more than 1,700 employees under Mr. Ivan Luis Camargo and will have the support of JSL to accelerate its new development cycle. Unitum shareholders were advised by Inspire Capital. For the year ended, December 31, 2022, Unitum Participações S.A reported Net Revenue of BRL 1400 million.

On March 22, 2023, the General Superintendence of the Administrative Council for Economic Defense approved the acquisition of Unitum Participações S.A.