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Struggling Lupatech Gets Capital Lifeline

Jan 4, 2012

Brazil’s leading oil industry valve maker, Lupatech, will receive up to a BRL700m ($379.3m) capital infusion as it struggles with a cash crunch and crippling leverage. Lupatech’s top shareholders along with private equity fund GP Investments, have agreed to recapitalize the troubled oil services company as it seeks to increase profitability and pay off debt. Under the agreement, BNDES Participacoes, the holding of...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management