Unidas cancels IPO

Brazilian fleet rental and sales company Unidas canceled a planned IPO on Friday. The issuer had postponed the deal in November for the 60 day period allowed under Brazilian regulations. It had filed for the IPO in July. Although Unidas had not given a size target, it had BRL205m ($90m) Ebidta in 2012. BTG Pactual, JPMorgan, Bank of America Merrill Lynch and Espirito Santo were working with Unidas, which sought the funds for growth.