Aeris takes plan to renegotiate R$ 1.52 billion in liabilities to the São Paulo court

Aeris, a manufacturer of blades for wind turbines identified by the code AERI3, decided to take the restructuring of its debts to the São Paulo court. According to Seu Dinheiro, the company filed a request for extrajudicial reorganization with the 3rd Bankruptcy and Judicial Recovery Court of the capital of São Paulo, seeking to resolve obligations in the order of R$ 1.52 billion.

The movement was communicated by a material fact released on Wednesday (4). According to the same report, the request was approved by the board of directors, but still depends on ratification at an extraordinary general meeting of shareholders.

Before going to court, the company reached an agreement with its biggest financiers. The announced goal is to reduce debt in relation to equity and adjust the composition between equity and third-party capital, that is, reduce the debt burden and reorganize the way in which the company finances itself.

When announcing the measure, the company said, according to Seu Dinheiro, that it wants to continue producing shovels, preserving jobs and links with suppliers and customers.

What is at stake is whether negotiations with creditors, combined with shareholder approval and court approval, will allow the company to reduce leverage without giving up industrial activity, which is precisely what the company says it intends.

What changes for the investor

For those who follow Aeris, the next milestones are the ratification of the request at a shareholders' meeting and processing at the 3rd Court of São Paulo. Until then, the scenario depends on these steps. As the stated objective is to reduce leverage, execution of the plan tends to be the company's main evaluation criterion. The detailed terms of the agreement with creditors were not disclosed in the investigation, and it is worth waiting for this information before drawing conclusions about the effect on AERI3 shares.

Automatically translated from Portuguese.