Brazil's Inepar to sell units to U.S. Melville Capital for $125 mln

Reuters
·1 min read

SAO PAULO, Jan 26 (Reuters) - Brazilian infrastructure group Inepar SA Industria e Construcoes, which is in bankruptcy protection, announced late on Tuesday it has received a $125 million offer from U.S. Melville Capital Group for the sale of two of its producing units.

Inepar said in a securities filing that 65% of the total figure accounts for the real estate properties and assets included in the units, while the remaining 35% represents their business value.

The payment is expected to come in two installments. The first one, totaling 15% of the deal, is set to happen within 30 days. The other 85% would be paid once the deal is approved by the judge in charge of Inepar's bankruptcy proceedings, it said.

"The company sees the sale of these assets as an important step towards ending its restructuring process," Inepar added. (Reporting by Gabriel Araujo, Editing by Louise Heavens)

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