Odebrecht offers Atvos stake to creditors

Odebrecht offers Atvos stake to creditors

Debt Loans Bonds Equity Corporate & Sovereign Strategy Brazil

Brazil's Odebrecht has offered creditors a stake in its ethanol division Atvos Agroindustrial as a way to write off debt, LatinFinance has heard. "Odebrecht is looking to restructure several assets, and its ethanol business is likely to be part of that," a lawyer in São Paulo said, adding that the troubled company has also offered shares in the petrochemical company Braskem to keep its creditors at bay. Odebrecht had been working on a deal to refinance BRL32bn ($8.57bn) in loans from BNDES, Banc

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