09/04/2013
According to LBR should attract investors Autor: Jornal do Comércio
Patricia Comunello
An agreement of Dairy Brazil (LBR) with creditors not only validate the bankruptcy process, but may revive the interest of investors willing to inject money into the company. The bet is partner-managing director of CRP Companhia de Participações, Clovis Meurer, representing a fund holds 2.3% of the share capital of the LBR. Meurer, accompanying modeling plan to be delivered by May 10 to the Justice of São Paulo, believes the measures involving review of production capacity, distribution and product lines should allow the generation of positive cash this year. The intention is to complete the procedures to renegotiate the liability until August. In 2012, the company tried to obtain $ 500 million from investors, but failed.
The executive believes that it is possible to achieve in 2013 called EBITDA, earnings before interest, taxes, depreciation and amortization, combining adjustments in the operation and greater scope in the box with the delay in discharge of debt commitments. Gross revenues should repeat more than $ 2 billion last year. "The recovery plan gives this condition. Everything will depend on how it will be completed, which includes the agreement of creditors, "links the socio-CEO of CRP, noting that the new business operation and financial condition have to go together. Reaction prices and demand for products should collaborate in 2013, quoted the manager. The banks are the biggest creditors. The liability is estimated at more than $ 1 billion. The numbers for 2012 have not yet been closed, but should confirm further injury. Meurer not comment on the figures. The negative performance has been attributed to market factors, supply chain, drought in 2012 and effect of taxation sector.
The possibility of attracting new members, mainly foreign applicants, who arrived to examine assets and the general situation of the group last year, is supported by the prospect of an agreement endorsed by Justice. "Business on bankruptcy and creditors under is more easily understood by a potential investor. Who looks the company has no more doubt. It is written to a judge, "reinforces Meurer. The request to use the deferral mechanism for discharge of debts under the new Bankruptcy Law for Corporations, was announced on February 15. According to the executive CRP appeal after the measure was "a month and a half of much examination" and after exhausting in December, talks with groups interested in applying in the business. "Five groups analyzed the LBR in 2012, throughout the year," said the executive.
While seeking new money, shareholders altered the command. The executive Rami Goldfajn, former adviser of BRF, assumed the presidency, and Nelson Bastos, former president of Gradient and specializes in business restructuring also strengthened the team in charge of bankruptcy. The fund CRP VII, which is in dairy and has resources of pension funds Funcef, Petros and Valia and BNDES, FINEP, the Fapes and CRP should wait two more years to make the desenvestimento of $ 50 million invested in 2010. Projecting out this year was postponed for better returns, Meurer explained. The ownership structure has yet Monticiano (more participation), Bndespar Wilson Zanatta and entrepreneur (founder of Good Taste). The LBR was created in 2011 in the merger of Good Taste and dairy gaucho Leitbom.
The company does not comment on whether layoffs will occur among the more than 4000 employees (there were 5000 in 2012). So far almost 500 units in the State of Santa Catarina. There was no agreement with labor unions for the LBR parcelasse the payment of severance pay. The president of Fetag-RS, Elton Weber said there are no records of arrears of about 3000 producers Gauchos connected with the company. Still, Weber admits concern over the possible impact of the closure of processing units. "The scenario for producers is stability. The security company is that there will be changes to the sector, "said the leader, from conversations with industry. "Because, if you stop production, the company breaks even," Weber joined. The president avoided Fetag RS-design expectation about bankruptcy, preventing's stories of groups that managed to reverse crisis and others not.
