Civitatis partners with Argentina's Despegar to lead the market for excursions and 'free tours' in Latin America.

CVC (CVCB3) jumps more than 20% after buyout rumors; company denies. CVC's shares (CVCB3) surged more than 20% in Monday's session (4), leading Ibovespa gains, amid rumors of a possible public takeover offer (OPA) involving Despegar.com, controlling company of Decolar. The rise of CVC shares gained momentum after a column by Lauro Jardim, from O Globo newspaper, indicating the Argentine company was evaluating a proposal to acquire the Brazilian tour operator. Despite the market repercussions, CVC denied any negotiations. In a material fact filed with the Brazilian Securities and Exchange Commission (CVM), the company stated it had not received any communication or proposal regarding a potential acquisition and that 'there are no ongoing negotiations concerning an acquisition of the company's shares and any public offer for capital closure.' 'CVC Corp reinforces its commitment to transparency and its duty to inform its shareholders and the market in general about any material facts related to its business,' the company added in the statement. CVC (CVCB3) takeover could consolidate Despegar in the region. According to Lauro Jardim's report, Despegar.com would be preparing a takeover bid for CVC, in a strategic move to consolidate its position as one of the main forces in the tourism sector in Latin America. According to the publication, the potential proposal value could exceed R$3.30 per share, the benchmark of the capital increase carried out by CVC in 2023. The transaction would aim to combine Decolar's technology infrastructure with CVC's physical reach, which has more than 1,600 agencies and relevant presence in the region. According to the column, the operation would also expand Prosus's ecosystem in Brazil, the group that controls Despegar and already holds assets such as iFood in the country. The potential acquisition of CVC (CVCB3) by the Argentine company, however, would depend on approval from regulatory bodies, given the market concentration that the combination of the two companies could generate.