Brazilian firms Fleury and Porto have withdrawn from negotiations with local healthcare firm Oncoclinicas regarding the potential creation of a new company, local newspaper O Globo said on Monday, citing sources.
The three firms had entered a non-binding term sheet last month, which established a 30-day exclusivity period to negotiate a definitive agreement.
Under the discussed deal, Oncoclinicas would have contributed its oncology clinics and debt totaling up to 2.5 billion reais ($500.44 million).
Fleury and Porto would have jointly invested 500 million reais in the new firm through a holding company.
None of the firms immediately replied to requests for comment.
($1 = 4.9956 reais)