Merger between mining company and gacho group could yield millionaire profits – Economy

Mining service operator
Minor funeral services operator enters into agreement with Grupo Cortel and expects growth (photo: Metropax/Reproduction)

The first week of September ends with good expectations for the Minas Gerais company Metropax and the Cortel Group, from the south of the country. Both operators of funeral services, made the merger official in a contract signed this Friday (3/9).

The business, made possible through the exchange of shareholding in the companies’ assets, will qualify the services. With the unification, Metropax will start operating with its own cemeteries and crematories, brought by the partnership and through acquisitions.

For the CEO of Grupo Cortel, Rafael Azevedo, the contract could be the first step towards the consolidation of a publicly traded company. “The idea is to maintain the current service structures, create products and expand the quality of services already offered. We believe that this is a good start for us to think about going public in the future”, he says.

Azevedo has good expectations for the partnership and shares the similarity in commercial views. “We have a strong synergy and our purposes were already going hand in hand well before the beginning of the negotiations”, he emphasizes.

The business makes the group more complete, allowing the development of new squares much more effectively, depending on the services provided, which complement each other.

Metropax, with 45 years in the market, has more than 400 thousand lives served through plans and funeral services in Minas Gerais.

While the Cortel Group is present in seven states, with seven human crematoria, two pet crematoriums, in addition to 12 cemeteries, funeral services and plans. The company has projects in Brazil with presence in Rio Grande do Sul, Paran, So Paulo, Rio de Janeiro, Gois and Amazonas.

According to the companies, the contract, signed this Friday (3/9), still has technical clauses involved. Thus, amounts involved in the agreement will still be disclosed.

*Internship under the supervision of sub-editor Eduardo Oliveira