Independencia Liquidation Likely: Barclays

Independencia Liquidation Likely: Barclays

Brazil Corporate & Sovereign Strategy

Lacking funding for operations, creditors of Brazilian beef company Independencia could initiate liquidation proceedings soon, Barclays Capital says in a report. “At this point, it seems very unlikely that Independencia will re-emerge out of a second restructuring in less than a year as a going concern, and therefore we believe that studying potential liquidation scenarios makes more sense for creditors,” the bank says, spotting a recovery value at 36-45 cents on the dollar. Despite discussions

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