The company informed that it has not yet reached an agreement on the proposal; most debts are with private banks
A Americans informed that it offered a new agreement for creditors to contribute R$ 10 billion in cash to the company. The retailer had a meeting with representatives of financial institutions on Monday (6.Mar) and Tuesday (7.Mar). Here’s the full of the press release (110 KB).
The proposal would have a structure similar to the previous one, of R$ 7 billion. The trio of reference shareholders –Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira– will be responsible for payment, as per the note. They are among the 10 richest people in Brazil, according to the magazine forbes.
In the new offer, Americanas proposed the support of its reference shareholders to increase the capital in cash.
The material fact is signed by Camille Loyo Faria, Americanas’ financial and investor relations director. Until the publication of this text, there was no agreement with the financial creditors.
“The Company hopes to continue holding constructive discussions with its creditors in search of a sustainable solution that allows the continuity of its activities”says the statement.
The company is in judicial recovery after presenting accounting inconsistencies of R$ 20 billion and debt that exceeds R$ 40 billion.
On Thursday (2.Mar.2023), the STJ (Supreme Court of Justice) decided that there is no conflict of jurisdiction between the lawsuits against Americanas that are pending in the courts of São Paulo and Rio de Janeiro.
Minister Raul Araújo’s decision favored the retailer’s creditor banks, which filed several lawsuits at the TJ-SP (São Paulo Court of Justice) and obtained favorable decisions. Among them are Bradesco, Safra, Santander and Itaú.
The retailer had requested an opinion from the STJ claiming that only the judge in charge of the judicial recovery could decide on actions against the company. read the full of the decision (266 KB).
#Americanas #proposes #contribution #billion #creditors