Localiza-Unidas Deal approved by CADE (by 3-2 vote)

The tie-up between the largest car rental company ‘Localiza Rent a Car’ & the second largest car rental company ‘Unidas’ in Brazil, criticized by the rivals, approved by CADE will go through only when the companies divest assets and CADE approve the buyer of the assets, to avoid overly dominant position in the market.