Get 40% Off
💰 Warren Buffet reveals a $6.72 billionstake in ChubbCopy Portfolios

Americanas' top shareholders boost injection offer to $1.9 billion -Bloomberg News

Published 03/02/2023, 07:09 PM
Updated 03/02/2023, 07:11 PM
© Reuters. FILE PHOTO: People walk in front of a Lojas Americanas store in Brasilia, Brazil January 12, 2023. REUTERS/Ueslei Marcelino/File Photo

(Reuters) - The top shareholders of retailer Americanas SA are informally offering a capital injection of 10 billion reais ($1.9 billion), Bloomberg reported on Thursday, after creditors rejected an initial offer of 7 billion reais.

Americanas entered bankruptcy protection in January after disclosing accounting "inconsistencies" worth 20 billion reais ($3.78 billion) and overall debt of more than $8 billion.

Its top shareholders are the founders of 3G Capital, billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira.

Citing sources, Bloomberg said that the latest offer was being well-received by bank creditors.

Americanas and 3G Capital did not immediately respond to a Reuters request for comment.

The company is trying to settle its debts via different financing solutions.

In early February, Americanas received the OK from a Rio de Janeiro court for a debtor-in-possession (DIP) financing of up to 2 billion reais ($384.57 million) through debentures.

Shareholders Lemann, Telles and Sicupira would pay up to the entire first tranche of such DIP financing, worth 1 billion reais ($189 million).

($1 = 5.2006 reais)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.