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SÃO PAULO, Brazil (Reuters) – The Brazilian car rental company announced on Wednesday that it has acquired NTC Serviços, a company specializing in fleet management for São Paulo's agri-food companies.
Founded in 1995 and based in NTC has a fleet of approximately 4,500 vehicles and 5 service points, all located in the region of Ribeirão Preto (SP). The company closed the 12-month period ending June 30 with net sales of about 127.1 million reais, or 4.1% of Unidas' annual sales, according to a statement.
"This transaction will allow the company to have an increase in its current platforms to serve its customers, thanks to the expansion of the fleet and physical service points, as well as to the 39, acquiring a new position in the agri-food sector, "said Unidas.
Unidas agreed to buy 55.55% stake in NTC for 50 million reais. The balance will be incorporated, through a stock exchange, at a rate of 1 NTC share for each Unidas share 0.075693842
Once the purchase is made, NTC will adopt the fancy name Unidas Agro.
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