Key Facts
—The deal. Ânima Educação (ANIM3) signed on July 14 to buy Centro Universitário FMU for R$410m ($80m), disclosed in a market filing.
—The round trip. Ânima sold FMU to a Farallon Capital fund for R$500m in 2020. It is buying the same college back for 82% of that price.
—The condition. FMU is in judicial recovery, Brazil’s court-supervised restructuring process.
—The numbers. FMU posted net revenue of R$281.7m and an adjusted operating result of R$52.9m in the year to March 2026 — a margin near 19%.
