May 15, 2020 |
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
Brazilian ethanol company repudiates claims by US private equity firms that changes are needed to restore profitability