Before 20 billion reais deficitAnd Announced in January 2023, Americana paid the largest amount in the company’s dividend in the third quarter of 2022 than in the previous 10 years. Shareholders received R$333 million.
Dividends are the portion of a company’s profits distributed to shareholders as a reward for their investment in the company.
The survey also brought in data from which retailers compete with Americana. In the third quarter of 2022, it was released Louisa Magazine Distribution of 99 million Brazilian reals. Indeed via Payments not made.
Understand the issue
to Americana reveal A notice to the market on Wednesday (January 11) reporting an accounting mismatch of about R$20 billion. Executive Sergio Real Request Resignation from the position of CEO of the company, as well as Andre Kofer, Director of Investor Relations. Here it is full From the document (409 KB).
the TJ-RJ (Court of Justice of Rio de Janeiro) Of course To Americana on Friday (January 13) a precautionary measure, at the request of the company, after the company announced an amount of R$ 40 billion in debt. The decision establishes a 30-day period for filing a request for judicial recovery. Financial obligations and debt payments were also suspended for the same period. Here it is full From the document (51 KB).
According to Americanas’ most recent financial statement, for the third quarter of 2022, the company had 3,601 stores in more than 900 cities. There were 40,000 employees and 53 million active customers. The decision of the Fourth Business Court in Rio de Janeiro states that the company is responsible for creating 100,000 direct and indirect jobs and collecting annual taxes of R$2 billion. Here it is full (50 KB).
Among the decisions included in the decision of Judge Paolo Acid, of the Fourth Corporate Court of the Capital Region, there are also:
- “Suspension of the obligation to enforce all obligations related to financial instruments. From the company signed with the institutions previously listed by Americana;
- “Cessation of any seizure, seizure, attachment, search, seizure and restriction of assetsthe effects of default;
- suspending clauses that force early maturity of store debts; And
- Maintain store contracts, including credit.
CVM (Comissão de Valores Mobiliários) specifies the presence of an independent auditor for balance sheets. Since October 2019, it has become PricewaterhouseCoopers Brazil He took on this role, replacing KPMG. The company approved Americana’s balance sheet without reservations for 2021. The power is 360 I called PwC, who said they don’t talk about client cases. The space is still open.
BTG attempts to reverse
For the second time in a row, the TJ-RJ engine debuted Refusal Urgent request from BTG charter To lift the 30-day ban on financial foreclosure by The Americans. Here it is full of resolution (176 KB).
The case is being heard in the Fourth Corporate Court of the Judicial District of Rio de Janeiro. BTG has frozen R$1.2 billion in retailers’ investments in the bank, as a way to guarantee debt repayment.
According to the bank, the company’s financial crisis was due to “Admit fraudby the company’s former CEO Sergio Real. He left the company after 9 days on the job because he was found Accounting discrepancies amounting to 20 billion Brazilian reals.
Following the judge’s decision to defer debt repayment for 30 days, BTG has appealed the decision benefiting Americana twice. Requests are rejected.
BTG’s defense said that the company’s financial crisis was caused by “Admit fraudAnnounced by Sergio Real. He appealed the application for a judicial recovery plan, which must be submitted within 30 days: “Accounting fraud is not a legitimate social function, and deserves the protection of the law, but it is an act that must be severely punished, with possible criminal consequences.BTG said.
the MPF-SP (Federal Public Ministry of São Paulo) opened On Friday (January 13) an action to investigate the signs’Insider tradingIt is the use of privileged information to obtain profits and advantages in the financial market.
Information about the opening of the investigation was initially published in the newspaper economic value and confirmed it The power is 360. The Public Prosecutor’s Office will investigate the events and, if there are signs of wrongdoing, will open a police investigation.
“Now, the São Paulo lawyer will carry out a preliminary analysis of the information reported and determine the next steps, which may mean the initiation of an investigation, the filing of a lawsuit or other appropriate measures. There is no deadline for this reviewMPF-SP said.
Americanas directors reportedly sold more than R$210 million in company stock in the second half of 2022, shortly after Advertising That Sergio Real will lead the company in January 2023.
The MPF-SP wants to know whether the majority shareholders of Americanas had any knowledge of the company’s financial condition at the time of the sale.
the CVM On Thursday (January 12), the Comissão de Valores Mobiliários announced that it had opened 3 administrative operations to investigate Americana. Here it is full From the press release (114 KB). He said he would take appropriate measures to “Sufficient and accurate explanation of all actions, facts and events related to the case“.
The lawsuits address the company’s financial condition and the circumstances surrounding the announcement of a deficit of R$20 billion. Here are the processes:
- CVM Administrative Procedure Number 19957.000413/2023-18;
- CVM Administrative Procedure Number 19957.000415/2023-15;
- CVM Administrative Procedure Number 19957.000425/2023-42.
According to the commission, in the event of illegality or wrongdoing, each of those involved can be held duly liable for “The strictness of the law and to the extent applicable.. CVM may also file a lawsuit against the Federal Police and the Federal Prosecutor’s Office.
CVM’s goal is to ensure the effective functioning of the capital market, maintain a favorable and safe environment and adhere to the constitutional principles of all market agents, ensuring the protection of investors.
in VideoSergio Real said he took office on January 2 and said he was unable to respond to all inquiries about discrepancies. However, he said he would help the company, even if he was away. He also stated that it is not just a theme for 2022, but for “many years past.
“I am unable at this moment to tell you when it started [essas inconsistências]“, He said.
The former Americana president stated that there were problems with extended risk, also known as advances to suppliers or assurance. “It is nothing more than the presence of the bank in the financing structure of the company’s resource account. […] I realize that a large part of Americana’s resource account was, essentially, bank debts and, therefore, should be reclassified as such. Obviously, the external auditor would approve of it.”announced.
He stated that the R$20 billion is several accounting estimates from recent years included in the balance sheet.
“We’re not talking about an off-balance sheet number. […] It just hasn’t been registered, and it’s been appropriated over the past few years.”announced.
El Real said that the company has total debt ranging between R$30 billion and R$35 billion, cash from R$8 billion to R$9 billion, and shareholder equity of about R$16 billion. “The company continues to sell, and it’s totally viable. She has a mismatched level of debt so she can move on. Writing conversation should be done in capital letters […] The scale of what needs to be done is not necessarily what I wanted initiallyHe said about resigning.
The CEO announced that one of the main risks is the disruption of the financing line for suppliers, which is carried out by banks.
to Americana announce On Thursday (January 12th), an independent commission was set up to determine the causes of the R$20 billion deficit in the company’s balance sheet. The lawyer will lead the group Ottavio Yazbeck. Vanessa Claro-Lopez and Pedro Melo will also join.
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