Petz (PETZ3): The company says it is evaluating opportunities, but there is no agreement on a possible merger with Cobasi; action triggers

According to Valor, Betz contacted investment banks to discuss a possible merger between the two companies

Infomoney Team


Aug 28, 2023 at 10:48 am – Updated 3 hours ago

Veterinary products companies Petz (PETZ3) and Cobasi have resumed talks about a possible merger, according to information from Valor Econômico.

According to the post, Betz contacted investment banks to address the matter. The two companies have already tried to move forward with a merger in the past, but Beatz founder Sergio Zimmerman has shown reluctance to continue talks, according to the post.

The newspaper notes that the Kenya Fund, which invested R$300m in Kopaci in 2021, would be interested in merging the business. Copasí earned R$2.6 billion and Bates about R$2.8 billion in 2022.

Betz stated, by physical fact on Monday morning (28), that no document, whether preliminary, final or any other binding document, was entered into with Kobase.

However, the company emphasized that in the normal course of its activities, it “continually evaluates and explores potential opportunities for acquisitions and business combinations, including with other strategic players in the sector.”

On the other hand, the Kenya Fund did not comment on the matter when contacted by Valor. Speaking across his office, Kopase said he did not comment on the rumours. Banks also did not show themselves.

After the auction, the shares opened Monday’s session strongly higher. As of 10:47 AM (Brasilia time), the advance was 5.74%, at R$5.71.

Check out Kobase’s story below: