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IG4 Offers to Buy Raizen Debt in Quest for Majority Stake

IG4 Offers to Buy Raizen Debt in Quest for Majority Stake
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IG4 Offers to Buy Raizen Debt in Quest for Majority Stake Private equity firm IG4 Capital, fresh off a deal to take control of petrochemical giant Braskem SA, is now setting its sights on sugar and ethanol producer Raizen SA, another major Brazilian company in distress. IG4 is offering to acquire Raizen debt in the midst of a proposed restructuring plan that will convert 45% of its debt into about 80% of equity, according to people familiar with the matter. The idea is to scoop up enough...

IG4 Offers to Buy Raizen Debt in Quest for Majority Stake Private equity firm IG4 Capital, fresh off a deal to take control of petrochemical giant Braskem SA, is now setting its sights on sugar and ethanol producer Raizen SA, another major Brazilian company in distress. IG4 is offering to acquire Raizen debt in the midst of a proposed restructuring plan that will convert 45% of its debt into about 80% of equity, according to people familiar with the matter. The idea is to scoop up enough debt to give IG4 a stake of just over 50% once the swap is complete, said the people, who asked not to be identified discussing private information. [Image text:] raigen raigen
IG4 Offers to Buy Raizen Debt (ORG) IG4 Offers (ORG) IG4 Capital (ORG) Braskem SA (ORG) Raizen SA (PERSON) Brazilian (ORG) IG4 (PERSON) Raizen (LOCATION)
Originally published by Bloomberg Markets Read original →