Americanas informed this Thursday (16) that it was unable to reach an agreement with major financial creditors after presenting a proposal that involves a contribution of R$ 7 billion by its reference shareholders, in addition to the repurchase and conversion of debt.
The cash contribution of R$ 7 billion would be supported by shareholders, Jorge Paulo Lemann, Carlos Sicupira and Marcel Telles. The value considers funding of R$ 2 billion “already contributed” disclosed last week, which would be converted into capital, said the retailer.
The company also proposed the conversion of financial debts of around R$ 18 billion, part in capital and part in subordinated debt, and, additionally, a repurchase of 12 billion.
Americanas filed for bankruptcy last month with debts exceeding R$40 billion, after disclosing accounting inconsistencies of around R$20 billion at the beginning of the year.
The presentation of the offer on Thursday was widely expected in the market, as it brought together the company, banks and other financial creditors. Americanas said the plan was presented by its adviser Rothschild & Co.
Americanas shares advanced 7.1% on the stock exchange at 2:32 pm, after being suspended for the disclosure of the material fact. Before, they rose 8.85%, already in the midst of news about the meeting.
The retailer also said it hoped to maintain “constructive discussions with its creditors in search of a sustainable solution that allows the continuity of its activities”.
Source: CNN Brasil
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