Bradesco unit takes control of Brazil's Odontoprev
SAO PAULO (Reuters) - Banco Bradesco SA's (BBDC4.SA) healthcare unit agreed to take control of Odontoprev SA (ODPV3.SA), Brazil's largest dental benefits provider, amid a recent wave of mergers and acquisitions in the nation's thriving healthcare industry.
Under terms of the plan, which were disclosed in a securities filing on Monday, Bradesco Saúde SA will buy out a 6.5 percent stake from Odontoprev Chief Executive Randal Luiz Zanetti, and consolidate its holdings in the company into a special purpose vehicle. Bradesco Saúde, through its majority stake in the ZNT Emprendimentos SA vehicle, will control Odontoprev.
As part of the plan, Zanetti will be replaced by Mauro Figueiredo, the filing added.
($1 = 2.18 reais)
(Reporting by Guillermo Parra-Bernal and Aluísio Alves; Editing by Phil Berlowitz)
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