Foreign Funds Compete to Receive Billion-Dollar Fund from Brazilian Construction Company Odebrecht, Which Fell Under Corruption Scandal in 2017.
A sugar-alcohol agreement from Odebrecht has been delayed by the Lone Star and Castlelake funds. The foreign funds expect to receive, before other creditors of Athos, credits estimated at R$ 1 billion. Odebrecht had bankruptcy requested by Caixa in court this October.
The company’s sugar-alcohol agreement is estimated to make a full payment of approximately R$ 8 billion and includes other banking creditors, including BB and BNDES.
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Scientists discover unexpected climate benefit hidden in forest soils related to atmospheric methane absorption.
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Sandy unproductive land can become a highly profitable area with a simple technique that boosts soybeans and corn to over 100 sacks.
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The new Kia hatch will have a range of up to 480 km, may cost up to 25,000 euros (around R$ 150,000), and promises to become one of the most affordable electric cars in Europe; meet the Kia Picanto Electric.
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Viih Tube, former BBB contestant and millionaire, lives in a mansion worth R$ 8.5 million with a heated artificial lake, two cinemas, a complete spa, and a giant playroom of 120 m² for the couple’s children.
The government signaled that it will not assist Odebrecht in restructuring its debt and avoiding bankruptcy. For the government, the recovery of the company is a “market issue” that should be resolved by financial institutions.
Abu Dhabi Fund Negotiates Alcohol Plant Atvos
Mubadala is in talks to acquire Atvos, Odebrecht’s sugar and alcohol unit, in a transaction that could result in a capital injection into the company, according to people familiar with the matter.
The sovereign fund of Abu Dhabi is negotiating with creditor banks, including Banco do Brasil and BNDES, which together made loans of R$ 11 billion to Atvos, the people said, asking not to be identified as the talks are not public.
Mubadala declined to comment. Atvos also did not comment. Atvos, which requested judicial recovery on May 29, presented a restructuring plan to creditors on August 7.
Odebrecht: Former Partner in Diamond Mining
The Catoca Mining Society, which is responsible for extracting over 75% of Angolan diamonds, previously had shareholders from four nations – Angola, Russia, China, and Brazil.
The Brazilian stake (16.4%) in the Catoca Mining Society was sold to Russian and Angolan parties. The chairman of the Board of Directors of Endiama still laments the Brazilian exit from the diamond mining partnership but remains open to new partnerships with Brazil, the first country to recognize Angola after its independence.
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