May 6, 2020 |
Brazil's Odebrecht is trying to keep hold of its ethanol business Atvos by filing an arbitration claim against French investment bank Natixis for selling a stake to US private equity fund Lone Star Funds, a company spokesperson told LatinFinance on Tuesday.
Lone Star, which specializes in buying distressed assets, said on Monday that it reached a $5 million agreement with Natixis and had become the majority shareholder in Atvos.
But Atvos claimed on Tuesday that Natixis breached its fiduciary ag
Troubled Brazilian firm files an arbitration claim after Lone Star moves to takes a majority stake in the ethanol business