Alpargatas sues Wizard for late payment

Alpargatas sues Wizard for late payment

Corporate & Sovereign Strategy Equity Debt M&A Argentina Brazil Capital Markets

Brazilian flip flop maker Alpargatas said it is suing Brazilian investor Carlos Wizard Martins for failure to pay an installment for the acquisition of its subsidiary in Argentina. Alpargartas said Wizard, who controls private equity firm Sforza Holding, missed a payment for BRL89.7 million ($17.5 million) on Monday and added that the total amount due was BRL266 million, according to a securities filing on Tuesday.    Wizard acquired 22.5% of Alpargatas in Argentina in 2018 for BRL100 million, i

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