Uruguay: Green light for sale of Caputto

The liquidation process of Citrícola Salteña (better known as Caputto) has not been easy. The company requested the bankruptcy in February 2019 and today its management is in charge of the Commercial Defense League (Lideco), the trustee appointed by the Justice.

Last Tuesday, an assembly of bondholders (debt holders) of Citrícola Salteña approved an agreement between the privileged creditors of the company’s bankruptcy, Lideco, and shareholders and former directors of Citrícola y Nolir SA (Grupo Caputto). This was a key step that gave the green light to start the company’s block sale process.

Caputto has a liability of about US$50 million and its main creditor is Banco República (BROU) with which it has a liability of around US$20 million. The rest of the debt is made up of commercial liabilities and those of different suppliers. The company has secured debt for US$35.7 million, while another US$11 million is unsecured.

Source: latin-american.news


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