The reference shareholders of Americanas, Jorge Paulo Lemann, Alberto Sicupira and Marcel Telles, proposed today (16) to the group’s financial creditors an agreement that provides for a cash capital contribution of R$ 7 billion. According to a material fact disclosed to the market, after the group’s meeting, by the Securities and Exchange Commission (CVM), there was no agreement.
The Americanas Group had request for judicial recovery accepted by the 4th Business Court of Rio de Janeiro last month, after accounting inconsistencies alleged by the group had generated an amount of more than R$ 40 billion in debt.
The tentative agreement was presented to banks and other financial creditors by Rothschild & Co, a consultancy hired to interact with creditors. The trio of billionaires would increase their capital in the company with the contribution, which considers a financing of BRL 2 billion already raised, which would also be converted into capital.
The proposal also included the repurchase of debt by the company in the order of BRL 12 billion and the conversion of financial debts in the total amount of approximately BRL 18 billion reais, part in capital and part in subordinated debt.
