SAO PAULO, April 3 (Reuters) – Brazilian retailer Americanas (AMER3.SA) stated on Monday its reference shareholders have signaled with the potential of injecting more cash into the corporate because it appears for a deal to settle its money owed.
The corporate, which counts the billionaire trio that based 3G Capital as reference shareholders, stated in a securities submitting it was holding periodic conferences with collectors, though no settlement had been reached but.
Americanas, which entered chapter safety earlier this yr after uncovering roughly $4 billion in “accounting inconsistencies”, stated the trio’s most up-to-date proposal to collectors totaled as a lot as 12 billion reais ($2.38 billion)
The provide included two potential extra capital will increase of as much as 1 billion reais every, on prime of a short-term injection of 10 billion reais in money already proposed by reference shareholders Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto Sicupira.
“The 2 extra capital will increase could also be triggered if the corporate is, on future dates to be agreed, above sure most leverage limits or under a minimal liquidity stage, each to be detailed sooner or later,” Americanas stated.
“The corporate stays dedicated to negotiating these phrases with its monetary collectors,” it added , noting the provide adopted a “dedication” of the billionaire trio to capitalize the corporate.
($1 = 5.0404 reais)
Reporting by Gabriel Araujo and Alberto Alerigi Jr.; Enhancing by Steven Grattan
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