Atvos resists calls to replace management

Atvos resists calls to replace management

Corporate & Sovereign Strategy Debt Capital Markets People Project & Infrastructure Finance Brazil US

Brazilian ethanol producer Atvos said it will resist efforts from US private equity firms Lone Star and Castlelake to name new management at the debt-laden company, adding that its executives will remain in place to oversee bankruptcy proceedings. The company's executives are focused on reaching a "satisfactory conclusion" to the judicial recovery process, which is "essential for [the company's] survival," Atvos said in a statement on Wednesday. "All the efforts of Atvos' managers focus exclusiv

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