The shareholders of 3G Capital, Jorge Paulo LemannMarcel Telles and Beto Sicupira, can bring good news to Americans (AMER3), two months after the retailer revealed a billionaire gap.
According to the columnist of The globeLauro Jardim, the billionaires are considering raising the capital injection proposal above the R$ 10 million offered, and denied, at the last meeting.
Sources heard by Bloomberg reported that the banks would be willing to accept R$ 12 billion.
Negotiations are progressing and creditors may accept the debt-for-equity swap package proposed by Americanssaid the people, who asked not to be named because the discussions are private.
Also according to the agency, the billionaires are arguing during negotiations with creditors that their investments in the company have exceeded withdrawals by about 1.6 billion reais in the last 10 years, said people familiar with the matter previously.
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The trio also alleges that they lost their long-standing investments in the company after the value of their 31% stake in Americanas plummeted, according to the people. They argue creditors should share the pain with them in bailing out the retailer, the people said.
Lemann should come to Brazil in the coming weeks to personally negotiate with the creditors, after banks criticized Sicupira’s performance in the case.
Altogether, the Americans, which entered into judicial recovery, has an estimated debt of up to R$ 47.9 billion, according to Lauro Jardim. The value would have been informed by two judicial administrators, from the Zveiter and Bruno Rezende offices, and the 4th Corporate Court of the Court of Justice of Rio de Janeiro.
New ghost for Americanas shareholders
The year 2023 is being one of turbulence for Lemann and its partners in 3G Capital: an investor of USA filed suit against Lemann and yours partners.
The reason is similar to the visa in Brazil, according to information in the column capitalfrom the newspaper The globe. According to the newspaper, the American investor, Adriana D Felicettifiled a lawsuit for the problems faced by the Kraft Heinz in 2019. At the time, errors in the balance sheet generated a write-off of US$ 15.4 billion.
According to the initial petition of the process, filed on March 6 of this year, which the column had access to, the investor accuses Lemann and 3G Capital of Americansof having failed in their fiduciary duty to the company and its shareholders, in addition to the practice of insider trading (misuse of inside information) to profit from Kraft Heinz stock before the accounting problems became public.
With Bloomberg and Lorena Matos
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
