Aeris, manufacturer of wind blades, requests extrajudicial recovery to renegotiate liabilities
The request was filed in São Paulo after approval by the board, and the plan still depends on ratification by shareholders at a meeting.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM MONEY TIMES · 2 MIN
Aeris (AERI3) filed a request for extrajudicial recovery to renegotiate its liabilities, according to Money Times. The case is being processed in the third court in the capital of São Paulo dedicated to bankruptcies and business upheavals. The information was disclosed in a material fact on Wednesday (4), and the manufacturer of blades for wind turbines begins to discuss the future of its financial structure with creditors and shareholders.
The board of directors has already approved the measure, but it still needs to be confirmed by shareholders at an extraordinary general meeting. Money Times also reports that major lenders have taken part in talks about the plan.
The company says that the goal is to reorganize its capital composition and reduce debt. The specific terms of the agreement are not included in the facts established, so it is not possible to detail values or deadlines.
According to Aeris itself, the proposal aims to maintain the production of wind blades, job vacancies, tax collection and the company's commercial ties. This list of objectives shows that the company presents restructuring as a way of keeping the operation going, and not just paying off debts.
As the company claims that the plan preserves jobs and taxes, the discussion tends to revolve around the terms that will be presented to creditors and shareholders in the next stages.
What changes for the investor
For those who invest and operate, the central point is that the plan is not yet completed, as ratification by shareholders is lacking and the terms of the renegotiation were not detailed in the facts established. The goal of reducing debt is what weighs most on the company's reading, as a balance sheet less pressured by debt is one of the themes that the market observes when evaluating a company. It is worth monitoring the relevant fact, the call for the meeting and the terms of the plan. This analysis does not constitute a buy or sell recommendation.
Automatically translated from Portuguese.
