Unidas Inches Closer to IPO

Brazil’s Unidas has received approval to switch its regulatory classification to a level permitting the sale of shares, it says. The vehicle rental provider has previously indicated that at an IPO is under consideration, though it has not yet officially moved to do so. Such a transaction would follow in the footsteps of Brazilians Localiza and Locamerica, as well as Ouro Verde, which filed an initial IPO prospectus earlier this week.