Vibra cuts ties with Americanas

Vibra cuts ties with Americanas

Corporate & Sovereign Strategy Debt Equity M&A Brazil Capital Markets Commerce Energy

Brazilian fuel distribution company Vibra Energia said Tuesday that it terminated a 50-50 joint venture with troubled retailer Americanas "in light of the recent events." Americanas, which filed for bankruptcy last week on the heels of an accounting scandal, said it was "surprised" by Vibra's decision and added that it will review the terms of the agreement together with its legal advisers to protect its interests. Vibra and Americanas formed the Vem Conveniência chain of retail shops at service

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