Radar > 229468

Black River Asset could be in advanced negotiations to acquire two Grupo Ruette factories

Black River Asset estaria em negociações avançadas para adquirir duas usinas do Grupo Ruette

Intel ID : 229468
Synopsis

US-based private equity firm Black River Asset, held by US-based Cargill, could be in advanced negotiations to acquire two factories controlled by Grupo Ruette, producer of sugar and alcohol based in São Paulo, as published by newspaper Valor Econômico on 17 September 2015.

The acquisition could be confirmed soon, since the due diligence process is almost complete. It only lacks the latest financial details, according to the news.

Black River Asset may have submitted an offer, which includes assuming BRL 530m in debt, taking into account a 30% discount over total liabilities, worth BRL 750m, or pay 50% of the debt in cash, to creditors.

There are 30 creditors involved in this transaction: Banco Santander Brasil, Amerra Agri Opportunity, ABN Amro, ED&F Man Capital Markets, BTG Pactual, Banco BBM, and Bank do Brasil.

Negotiations have been on the table since May 2015 (see Intel related). Grupo Ruette has been trying to sell these plants since March 2015, when it withdrew its judicial recovery process. (see Intel related)
(content in portuguese)

A private equity norte-americana Black River Asset, da também norte-americana Cargill, estaria em negociações avançadas para adquirir duas usinas da empresa brasileira Grupo Ruette, que se dedica à produção de açúcar e álcool e tem sede no estado de São Paulo, segundo publicou o Valor Econômico em 17 de setembro de 2015.

A compra estaria a ponto de ser confirmada já que o a due diligence já está praticamente concluída, faltando somente os últimos detalhes financeiros do negócio, de acordo com a notícia.

A private equity norte-americana teria feita uma oferta em que pretende incorporar BRL 530m em dívidas, já considerando um desconto de 30% sobre o passivo total de cerca de BRL 750m, ou pagar à vista 50% da dívida aos credores.

Entre as 30 instituições credoras envolvidas na operação estão: Banco Santander Brasil, Amerra Agri Opportunity, ABN Amro, ED&F Man Capital Markets, BTG Pactual, Banco BBM, e Banco do Brasil.

As negociações vem sendo feitas desde maio de 2015 (ver Intel relacionado). O Grupo Ruette vem tentando vender a usinas desde março de 2015 quando retirou seu processo de recuperação de judicial (ver Intel relacionado).

Bidder

United States

Advisors

retained

Seller

Brazil

Advisors

retained

Intel ID 229468
Value ND
Native Currency Brazilian Real (BRL)
Exchange Rate:
Date
Country
Region
Continent
Geography
Subsector (Old TTR Sectors)
Type
Intel Grade
Source
Tags

Bidder

Name
potential
Subsector (Old TTR Sectors)
Services and Distribution / Financial and Insurance (Primary)
Primary Sector (TTRSC)
25.01.09 Private Equity
25 Financial Services / 25.01 Banking & Investment

Country
Website
Description

Seller

Name
verified
Subsector (Old TTR Sectors)
Industry / Food (Primary)
Energy and Renewable Energies / Biofuel
Primary Sector (TTRSC)
15.07.05 Food Ingredients
15 Consumer Products & Services / 15.07 Food

Secondary Sectors (TTRSC)
15.05.08 Food & Beverage Retail
15 Consumer Products & Services / 15.05 Distribution & Retail

20.04.01 Biofuels
20 Energy & Utilities / 20.04 Renewable Energy

55.01.04 Crop Cultivation & Horticulture (Non-Perennial, Short-Lived or Temporary Crops)
55 Raw Materials & Natural Resources / 55.01 Agriculture, Fishing & Hunting

55.01.99 Other Agriculture & Fishing
55 Raw Materials & Natural Resources / 55.01 Agriculture, Fishing & Hunting

Country
Website
Description

Financial Advisory

Legal Advisory

Radar

Date Title Type Intel Grade Country Subsector  

Legend:

verified Verified: Confirmed as a party to an active or possible transaction.

potential Potential: Unconfirmed as a party to an active or possible transaction.

retained Retained: Confirmed as “Retained” with a general or specific mandate.

prospect Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.

Transactional data is continuously updated by the research team and therefore is subject to change.