Claro closes agreement to acquire 73% of Desktop for R$ 2.4 billion
Claro has signed a contract to acquire 73.01% of Desktop S.A. for R$ 2.4 billion, marking a significant shift in ownership for the internet service provider.
Claro, a major telecommunications operator, announced on Sunday that it has finalized a contract to acquire 73.01% of Desktop S.A. for R$ 2.4 billion. This acquisition involves the purchase of 84.7 million shares currently owned by an investment fund and the founding shareholders of Desktop. Founded in 1997, Desktop is among Brazil's largest regional internet service providers, and this agreement represents a pivotal moment in the company's ownership structure.
The acquisition results in the exit of significant founding figures such as Denio Alves Lindo, who played a crucial role in Desktop's network expansion. Alongside him, other co-founders Mucio Camargo de Assis Filho and Marcos Camargo de Assis also sold their stakes. Additionally, investors including José Carlos Franco Júnior and the Makalu Brasil Partners fund are among those who departed as part of this transaction, indicating a major restructuring of ownership at Desktop.
In a relevant announcement issued on the same day, Desktop was valued at R$ 4 billion, leading to Claro's final purchase price being adjusted to accommodate the company’s net debt. This transaction showcases Claro's strategic move to enhance its market position in the Brazilian telecommunications landscape, reflecting ongoing trends of consolidation within the industry that may reshape competitive dynamics in the sector.