Brazil's Petz rises after regulatory approval of merger Cobasi
ReutersJun 3, 2025 3:18 PM
Shares in Brazilian pet product retailer PETZ3.SA rise following regulatory approval on merger with peer Cobasi
Brazilian antitrust body Cade' approved the merger on Monday without restrictions
The combined company of Petz and Cobasi, the two largest pet retailers in Brazil, would own some 480 stores
Petz shareholders will own 52.6% of the combined company
"The focus is now likely to shift to the integration of operations and the extraction of synergies," analysts at JPMorgan said in a note to clients
Petz is up 3% outperforming Brazil's benchmark stock index Bovespa .BVSP that gains 0.2%
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