Regions

Unidas, the Brazilian car rental company, announced plans for a public offering. The company said that they plan to use the funds from the public offering to finance potential acquisitions. The acquisitions will be funds to expand the company's network and to strengthen its cash position. Shareholder for Unidas approved of the planned IPO. The initial public offering will be posted on the Novo Mercado of the Sao Paolo Exchange.

Unidas said that they expect to close the public offering by the end of the third quarter of 2013. Unidas has yet to release the details on how many shares will be offered and pricing.  Shares to be offered in the IPO will come from the Portuguese group SAG, Kinea Investimentos, Vinci Partners, Gavea Investimentos and Itau Unibanco.

The Unidas public offering will follow the CPFL Energias Renováveis SA IPO which was the first completed IPO in Brazil since April.