Cogna Educação S.A. (BOVESPA:COGN3) and Eleva Educação S.A. are currently in negotiations for the sale of assets. The operations would involve the acquisition of schools owned by Cogna by Eleva, which in turn would sell its education system. The talks reportedly started with Eleva, which according to sources is planning to launch an IPO in mid-2021. Talks, which began three months ago, are facing difficulties since both firms want to maintain their commercial contracts and there is currently not agreement on their values.
Cogna Educacao SA, formerly Kroton Educacional SA, is a Brazil-based company active in the private education sector. The Company focuses on developing primary and secondary schools, post-secondary and undergraduate programs, as well as vocational courses. The Company's activities are divided into three business segments: In-class higher education, which offers port-secondary programs on campus; Distance learning higher education (EAD), which provides port-secondary programs via online platform, and Basic education, which includes own and managed primary schools, collection and development of teaching materials, school management advisory, as well as educational support tools, among others. The Company operates a number of brand names, such as Anhanguera, Fama, Pitagoras, Unic, Unime and Unopar. In addition, it is involved in the wholesale, retail, distribution, import and export of textbooks, course books, magazines and other publications related to education.
COGNA EDUCAÇÃO S.A. 
