Anhanguera Soars Most in Two Years on Outlook for Savings
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Anhanguera Educacional SA, Brazil’s second-largest education company, soared the most since 2011 as its forecast for cost savings offset lower-than-forecast profit.
The shares jumped 10 percent to a record 15.19 reais at the close of trading in Sao Paulo, the biggest one-day advance since August 2011. Trading volume was 4.1 times the three-month average after Anhanguera said in a filing it expects 300 million reais ($129 million) in benefits over the next three years from the merger with Kroton Educacional SA, which agreed to buy its smaller rival for 5 billion reais in April.