Adds supply accustomed to the matter on talks SAO PAULO, Oc
Adds supply accustomed to the matter on talks
SAO PAULO, Oct 14 (Reuters) – Brazilian lender Banco BTG Pactual SA BPAC11.SA is in talks to take over bankrupt ethanol producer Atvos by a capital injection, one supply accustomed to the matter stated.
BTG’s particular conditions unit has proposed to Atvos’ collectors a capital injection of 500 million reais ($90.09 million) into the corporate for a minority stake in Atvos Bioenergia, a brand new firm created after collectors authorised the ethanol producer’s restructuring plan in Might.
Atvos and BTG declined to touch upon the matter.
Reuters reported earlier that Abu Dhabi funding agency Mubadala Funding Co [RIC:RIC:MUDEV.UL] had additionally provided to inject recent cash into Atvos if its collectors accepted a brand new spherical of debt restructuring with a lowered payout.
Atvos, a unit of corruption-tainted engineering firm Odebrecht, filed for chapter safety in Might final yr with practically 11 billion reais in debt.
($1 = 5.5502 reais)
(Reporting by Carolina Mandl Modifying by Paul Simao and Grant McCool)
(([email protected]; +55 11 5644 7703; +55 11 97116-3806;))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.