Cogna Educação S.A. (BOVESPA:COGN3) on January 7, 2020 confirmed it is holding talks with local school chain Eleva Educação S.A. about a potential transaction involving the purchase and sale of certain educational assets between the two companies. The transaction may encompass the sale of certain schools controlled directly or indirectly by Cogna-controlled Saber Serviços Educacionais S.A. to Eleva, as well as the sale of learning system by Eleva to Somos Sistemas de Ensino S.A., an affiliate of Cogna and Vasta Platform Limited (NasdaqGS:VSTA). No binding agreements have been inked yet and it could not be certain whether any transaction will materialise, Cogna noted in a statement.

The press release followed media talk on the matter.