Aralco group enters judicial recovery

Aralco group enters judicial recovery

Corporate & Sovereign Strategy

Aralco and six related companies have entered Brazil’s judicial recovery process after a Brazilian court accepted the filing, the firm said in an emailed statement on Tuesday. Aralco filed for judicial recovery in February as it launched a search for liquidity — selling assets and future sales of ethanol were among the options being considered, the firm said in a March conference call with investors. At that time, it had BRL1.1bn of debt outstanding, of which close to half was collateralized. Ag

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