Brazils Americanas reports 7,720 creditors, $8 billion in debt

Brazil's Americanas reports 7,720 creditors, $8 billion in debt

SAO PAULO (Reuters) – Brazilian retailer Americanas SA reported on Wednesday a list of 7,720 creditors with debt totaling 41.2 billion reais ($8.02 billion) within its restructuring process, a Rio de Janeiro court said.

Americanas, backed by the billionaire trio that founded 3G Capital, entered bankruptcy protection last week after disclosing “inconsistencies” in its accounting.

The court did not disclose a detailed list of the retailers creditors, but analysts had previously said lender such as BTG Pactual, Bradesco and Santander Brasil were among the most exposed.

At the same time, Americanas said in a securities filing that U.S. investment management company BlackRock Inc had severely reduced its position in the firm following the accounting scandal.

Data published on Americanas website showed that in December 2022 BlackRock owned more than 45.5 million common shares in the firm, a stake of roughly 5.05%.

Now, the retailer said BlackRock had cut its position to 1,038,566 common shares, or about 0.12% of the total, plus some derivative instruments accounting for 0.36% of its total common shares.

($1 = 5.1392 reais)

(Reporting by Gabriel Araujo, Editing by Louise Heavens)

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