By Brazil Stock Guide – Ambipar SA (AMBP3.SA) has hired Alvarez & Marsal to lead its restructuring process as the company prepares to file for bankruptcy protection, according to a report by O Globo columnist Lauro Jardim.
The environmental management group, controlled by businessman Tercio Borlenghi, has been in talks with creditors since early October with the support of BR Partners (BRBI11.SA). The investment bank will remain involved in negotiations alongside Alvarez & Marsal, which is expected to oversee the judicial recovery process.