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Brazil's antitrust agency CADE approved the acquisition of local truck rental company Borgato by logistics firm JSL.
In October, JSL announced an agreement to acquire Borgato for 100mn reais (US$31mn). CADE approved the deal with no restrictions.
Borgato was founded in 1987 and is based Ribeirão Preto city. It rents and sells trucks and heavy machinery and equipment for the agricultural industry. The company has 18 outlets in the states of São Paulo, Goiás, Mato Grosso and Minas Gerais. In 2016, Borgato posted net revenue of 186mn reais.