Bahema Educação S.A. (BOVESPA:BAHI3) signed an agreement to acquire 60% stake in Brazilian International School for BRL 18.9 million on October 1, 2019. BIS' net debt will be deduced from the price. Under the terms of the deal, Bahema will also have the option to acquire the remaining 40% from founder Alessandra Pellegrino Casquel Lopes by 2024. Closing is subject to customary conditions and approvals. Bahema Educação S.A. (BOVESPA:BAHI3) cancelled the acquisition of 60% stake in Brazilian International School on October 1, 2020.