Afya Ltd. and Yduqs Participações S.A. signed a binding agreement to merge their operations. Afya will merge into Yduqs. The resulting entity will list exclusively on Brazil’s B3 exchange. This move will delist Afya’s shares from the Nasdaq.
The combined company will lead the Brazilian higher education market, specifically in the medical sector. Existing Afya shareholders will own approximately 69% of the new company. Yduqs shareholders will hold the remaining 31% stake.
The transaction expects to generate between R$2.0 billion and R$2.2 billion in synergies. The merger remains subject to customary closing conditions and regulatory approvals. The companies expect to complete the transaction by March 31, 2028.