Brazil's antitrust body approves Petz-Cobasi merger with restrictions

SAO PAULO, Dec 10 (Reuters) - Brazil's antitrust authority CADE's administrative tribunal approved on Wednesday the merger of the country's two largest pet product retailers, Petz PETZ.SA and Cobasi.

• CADE approved the deal with restrictions, after having decided in June to "clear the transaction unconditionally."

• The deal was approved throught the execution of a merger control agreement which foresees the sale of 26 stores in the state of Sao Paulo, Petz said in a filing.

• The divestment represents 3.3% of the combined company's revenues in the last 12 months.

• The agreement also cites "certain behavioral commitments", which were not detailed by Petz.

• Petz shareholders will hold a majority stake in the combined company, which will own some 450 stores after the divestment.

• Sao Paulo-traded shares of Petz were up 2.4% midday after the deal's approval, while benchmark stock index Bovespa .BVSP was up 0.2%.