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RIO DE JANEIRO, Sept 14 (Reuters) – Shares of Brazilian education company YDUQS Participações S.A. and Ser Educacional SA jumped on Monday after the companies offered competing bids for Laureate Education Inc’s assets in Brazil.
Yduqs, a for-profit education company formerly known as Estacio Participações, is “deepening the understanding of these assets and believes it is able to present a more attractive competing proposal” than Ser, it said in a filing on Monday.
Shares of Yduqs rose more than 6% to 29.60 reais, and Ser jumped more than 13% to 16.74 reais. Laureate’s shares rose 1.35% to $13.47.
Ser Educacional announced on Sunday it had agreed to acquire the assets of Laureate group in Brazil. The U.S.-listed company, which owns and operates campuses in about 10 countries, has 267,000 undergraduate students in Brazil, according to a report by BTG bank.
Ser Educacional’s offer values Laureate’s