Energy
Rio de Janeiro’s Utility Closes Deal With Creditors For Debt Restructuring
- Utility is said to agree with a 1 billion reais injection deal
- Binding agreement should become full restructuring plan
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Rio de Janeiro’s utility Light SA reached an agreement with creditors, moving a step closer to leaving a bankruptcy protection process that started last year, according to people familiar with the matter.
The deal includes 1 billion reais ($200 million) in equity injection from the company’s main shareholders, Nelson Tanure, Ronaldo Cezar Coelho and Carlos Alberto Da Veiga Sicupira, who own a combined 65% of the company, the people said, asking not to be named because the discussions are private.