This Wednesday (25), Americanas disclosed that BlackRock, the world’s largest asset manager, reduced its stake in the company to approximately 0.12% of the shares, plus 0.36% via derivative instruments. In December, according to data on the Americanas website, this slice was around 5.05%.
Earlier this week, Capital International Investors (CII) informed the company about the reduction of its shareholding in the retailer from 7.04% to 4.07%. With this, the participation of this North American investor group is now equivalent to 36,770,436 common shares, according to the statement published on Monday (23).
The company did not mention when the operations to reduce the slice were made and the reason for the transactions.
Last week Americanas accepted one of the biggest requests for judicial recovery in the country’s history, pressured by more than R$ 40 billion in debt following the revelation of accounting problems in the order of R$ 20 billion.
At B3, Americanas shares closed this Wednesday (25) up 17.5%, at R$ 0.94. Before the announcement about the discovery of the accounting problems, the paper was worth R$12.
Also this Wednesday, the retailer released the list of creditors, which adds up to almost 8,000 names and has filed a request for its assets in the United States to be protected.
On Friday (20), XP warned that the request for judicial recovery created a climate of uncertainty in the credit market, which could lead the market to demand higher risk premiums.
“It is possible that the rates agreed with the financial institutions of the new issues that were in progress —of any company or sector— would have difficulty in being maintained at the same level practiced previously, or even cause a decision to postpone the issue”, said the head of fixed income from XP, Camila Dolle.
“The case of Americanas corroborates the understanding of the higher risk of debentures in relation to other fixed income options, in exchange for a comparatively higher remuneration”, they stated. “But it doesn’t make the instrument itself more risky.”
In the case of Americanas, they explained that, in a judicial recovery process, the first impact felt by the fixed income investor is seen in the custody position, since the company’s debt securities are no longer traded, and have their zero value on mark-to-market.
I have over 10 years of experience working in the news industry. I have worked for several different news organizations, including a large news website like News Bulletin 247. I am an expert in the field of economics and have written several books on the subject. I am a highly skilled writer and editor, and have a strong knowledge of social media. I am a highly respected member of the news industry, and my work has been featured in many major publications.
