---
title: "Afya Limited (AFYA) To Merge Into YDUQS; Afya Holders To Own 69%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300734606.md"
description: "Afya Limited has signed an agreement to merge into YDUQS. Afya shareholders will receive YDUQS shares at a fixed ratio of 6.408347, resulting in them owning 69% of the combined company. The merger is subject to approvals from CADE and Extraordinary General Meetings (EGMs). Upon completion, Afya will delist from Nasdaq and list on B3."
datetime: "2026-10-01T22:53:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300734606.md)
  - [en](https://longbridge.com/en/news/300734606.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300734606.md)
generator: "portal-rs"
---

# Afya Limited (AFYA) To Merge Into YDUQS; Afya Holders To Own 69%

Afya signed an agreement to merge into YDUQS. Afya shareholders will receive YDUQS shares at a fixed 6.408347 ratio and are expected to own 69% of the combined company, subject to approvals including CADE and EGMs.

**Material Details**

| # | Detail                        | AI Analyst View                                                                                   |
| - | ----------------------------- | ------------------------------------------------------------------------------------------------- |
| 1 | Fixed exchange ratio 6.408347 | Locks relative value; removes market-based adjustments, focusing risk on approvals and execution. |
| 2 | Post-close split 69%/31%      | Determines control; Afya investors become majority owners of the combined entity.                 |
| 3 | Afya delist from Nasdaq       | Listing shifts to B3 only; impacts investor access and index eligibility.                         |
| 4 | Conditions include CADE OK    | Brazil antitrust approval is a key gating item; delays or remedies can shift timing/structure.    |
| 5 | YDUQS may pay up to R$750M    | Permits distributions that affect balance sheet pre-close; Afya has top-up mechanics.             |
| 6 | Break-up fees up to R$650M    | High reverse/standard fees signal deal seriousness; create downside protection.                   |

**Context by AI Analyst**

This is a transformative, control-setting merger combining Afya’s medical education with YDUQS’s broader higher-ed platform. The key catalyst is CADE approval and both EGMs; clearances and final terms will determine timing and integration path.

Based on the original press release from Afya Limited distributed by BusinessWire.

**Disclaimer**

This is an AI-generated summary and may contain inaccuracies. Summary is based on content distributed by BusinessWire. Please verify any important information with the original source. This information is not a recommendation for what you should do personally and does not constitute investment advice.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**