Atvos creditor agreement now 'almost impossible' - sources

Atvos creditor agreement now 'almost impossible' - sources

Corporate & Sovereign Strategy Debt Capital Markets Project & Infrastructure Finance Brazil Latin America

Brazil's Odebrecht does not expect to win approval from creditors of its ethanol subsidiary Atvos for a restructuring plan and is considering delaying the vote, sources told LatinFinance. Odebrecht's new outlook for Atvos comes after US private equity fund Lone Star Funds purchased a majority stake in Atvos. Lone Star signed a $5 million agreement with Natixis to acquire its majority stake in Atvos, which led Odebrecht to file an arbitration claim in a bid to keep hold of the asset on Tuesday. O

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