Americanas: 3G, from the trio of billionaires, is excluded from the action – 07/15/2023 – Market

Americanas informed that 3G Capital Partners, an investment company owned by Jorge Lemann, Marcel Telles and Carlos Alberto Sicupira, the company’s reference shareholders, was excluded from the arbitration procedure initiated after the retailer’s scandal became public.

According to a notice to the market attached to the CVM (Securities and Exchange Commission) last Friday (14), the decision was issued on July 5.

3G Capital was on the defendant’s side, that is, as a defendant, in the CAM 236/23 arbitration procedure, alongside Americanas, Cathos Holdings SARL, BRC SARL, Cedar Trade LLC, SVelame SARL, in addition to Lemann, Sicupira and Telles.

The trio of Americanas’ reference shareholders continues to be defendants in the lawsuit.

The arbitration procedure was filed by the Instituto Ibero-americano da Empresa, a civil association that acts in the defense of minority shareholders.

The lawsuit asks for the condemnation of all those mentioned above in the process for the violation of the duties related to the provision of correct information from Americanas to the shareholders and the market.

The required penalty involves the annulment of the purchase of Americanas shares due to the error in the financial information provided by the company and the return of the amount paid, with monetary corrections.

The lawsuit also asks for the payment of the difference between the value of the Americanas share, purchased “based on information provided to the market”, and the correct price of the stock.

In addition, it requests compensation for losses related to the loss of opportunity for investors due to the acquisition of Americanas shares for incorrect amounts.

QUARTERLY RESULTS

Also in a statement to the market attached last Friday to the CVM, Americanas said that the company’s financial statements, including closed results for all of last year, “remain in progress”.

The retailer said it is preparing and reviewing its quarterly financial data, and stressed that the disclosure of information for the first quarter of this year depends on the completion of last year’s financial statements.

The company has not released its quarterly financials — which investors look to as the basis for their analysis of companies — since the fourth quarter of last year.

Data from October to December 2022 were supposed to be released earlier this year, but were stopped after reports of accounting “inconsistencies” in the company’s balance sheets. Such inconsistencies have been treated as fraud by Americanas since last month.

The company was not sure about the date of disclosure of the financial information for the first quarter of this year, but said that “the company’s best estimate, on this date, is to disclose such information within 60 days of the disclosure” of the 2022 financial statements .