Five firms express interest in Independência assets - leatherbiz: Lead Leatherbiz

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Five firms express interest in Independência assets

18/07/2011
Reports in Brazil suggest five companies have expressed an interest in acquiring the assets of packer and tanning firm Independência. The company ran into financial difficulties at the start of 2009 and has been working with its creditors since November that year to reach an agreement on a payment plan.

Selling off the company’s assets, collectively or separately, are part of the plan to recover money owed to creditors.

Independência’s assets are estimated to be worth around $1.2 billion.

Among the assets that Independência wants to sell are a tannery and abattoir in Nova Andradina in Mato Grosso do Sul, an abattoir in Campo Grande in the same state, as well as another in Senador Canedo in Goiás.


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