Unigel concluded the extrajudicial recovery process that began on February 20, 2024, with the presentation of extrajudicial recovery plans before the 2nd Court of Bankruptcy and Judicial Recovery of the São Paulo District, State of São Paulo.
The closure of the operation occurred after the conversion of R $ 5.1 billion of old debt into new financial instruments, which made it possible to break up about 50% to Unigel.
Additionally, most of the $ 100 million captured together to the creditors who elected option to the RE plans will be intended to complete the construction of the sulfuric acid plant, resizing of working capital and the company’s cash strengthening.
The implementation of the RE plan also represents a new stage in the governance of Unigel, and creditors option to hold 50% of the company’s shareholding participation.
The composition of the Board of Directors now has 7 members, three representatives of the founding family, three representatives of the options A and an independent member elected jointly by the creditors and the Cigel in the scope of restructuring, Roberto Noronha Santos begins to occupy a Of the vacancies in the Council and Dario Gaeta was appointed as CEO from this date.
