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LatinNews Regional Monitor: Brazil & Southern Cone - 30 May 2019

In brief: Brazil

* Atvos, Brazil’s second largest ethanol producer and a subsidiary of the Odebrecht conglomerate, has announced that it has filed for bankruptcy protection. Atvos says it was forced to launch the legal process after a hostile court action by one of its creditors endangered the continuity of its operations (the creditor is an international fund which has been identified as Lone Star Funds by news agency Reuters). The company says it “intends, through bankruptcy protection, to follow its path of growth, speeding up the execution of investment plans in the production of clean and sustainable energy”. Atvos is currently responsible for the provision of 10% of the Brazilian ethanol market and generates more than 40,000 direct and indirect jobs across the four states in which it is active.