We are advising Arco Platform on the transaction

Davis Polk is advising Arco Platform Limited on its going-private acquisition by investment entities affiliated with General Atlantic L.P. and Dragoneer Investment Group for a purchase price of $14.00 per share in cash at a total enterprise value of approximately $1.5 billion. The transaction is expected to close during the fourth quarter of 2023 or the first quarter of 2024, subject to various closing conditions. The board of directors of Arco had formed a special committee consisting of independent directors to consider the transaction and upon receiving the unanimous recommendation of the special committee, the board approved the transaction.

Based in Brazil, Arco develops educational software, offering a platform that delivers educational content in printed and digital formats to improve the learning process. Its data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience while enabling schools to thrive.

General Atlantic is a global growth equity firm with more than four decades of experience providing capital and strategic support. The firm partners with entrepreneurs and management teams, combining specific expertise, a long-term investment horizon and a deep understanding of growth drivers to scale their businesses.

Dragoneer is an investment firm with over $20 billion under management. Dragoneer partners with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm holds public and private investments across industries and geographies, with a particular focus on technology-enabled businesses.

The Davis Polk corporate team includes partners Manuel Garciadiaz and Cheryl Chan, counsel Jacob S. Kleinman and Konstantinos Papadopoulos, and associates Sarah H. Moller and Max Nides. Partner Kyoko Takahashi Lin and associate Sheryl B. Bohan provided executive compensation advice. Members of the Davis Polk team are based in the New York and Sao Paulo office.

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