Tenda (TEND3) proposes capital reduction, Eletrobras (ELET3) files to deregister CHESF and other news

Learn about the most prominent company news for this Thursday (5)

Camille Bocanegra


5 October 2023 at 07:55

The company’s radar comes this Thursday (5) with Tenda (TEND3) announcing a capital reduction proposal to be presented to the meeting, without canceling shares.

Eletrobras (ELET3; ELET6) has announced progress on the de-registration of CHESF with CVM, with deliberations on the company’s debt assumption to follow.

Check out more highlights:

Construction company Tenda (TEND3), by material fact, has announced a proposal to reduce capital, which will be determined at the Extraordinary General Assembly (AGE) meeting, on November 16.

The initiative provides for absorbing the accumulated losses, without canceling the shares and without any change in the participation rate of the current shareholders in the company. There is also no requirement to recover any value to shareholders.

The proposed capital reduction amounts to approximately R$ 419 million, which is consistent with the value of the accumulated losses recognized in the company’s quarterly financial information report. If approved, the company’s capital will be approximately R$911 million, divided into 123,094,246 ordinary shares.

The full proposal will be released on October 6.

“The company’s management recognizes that a capital reduction may provide additional benefits to shareholders, such as enabling future dividends, depending on the calculation of the company’s profits in future years, as well as rebalancing the level of capital and the value of the company’s assets,” the statement says.

Debt assumption criteria announced by Eletrobras (ELET3; ELET6) for the purpose of deregistration of Companhia Hidro Elétrica do São Francisco (CHESF). The company intends to continue the process through negotiations with the holders of bonds issued by Extremoz Transmissora do Nordeste, a company established and succeeded by CHESF.

Furthermore, it has been announced that the Vice President of Marketing has been elected for a term ending on May 1, 2025. Italo Taddeo de Carvalho takes over the position after leaving his position as the company’s Vice President of Engineering and Expansion.

Miter Realty (MTRE3)

Miter reported that an administrative meeting was held with the Board of Directors to deliberate and approve the acquisition of 4 properties owned by Fabricio Miter to develop a real estate project. The purchase of properties located in Al Bahia has been approved for a total value of R$ 13,5000,000.00.

Gerdau (GGBR4) and Metalúrgica Gerdau (GOAU4) expect strategic capital investments of approximately R$11.9 billion over the period 2021-2026.

Of this total, 27.7% (or R$ 3.3 billion) has already been invested, while the remaining 73.3% (or R$ 8.6 billion) is expected to be invested in the coming years (period from 2024 to 2026).

The Arbitration Chamber Court approved an agreement between Oi (OIBR3), TIM (TIMS3), Telefônica Brasil (VIVT3) and Claro regarding the post-closing settlement value of the sale of the company’s transferred assets under judicial redemption.

The total amount owed to Oi for the acquisition of UPI Ativos Móveis was determined to be R$15.19 billion, taking into account the closing date of the negotiations. At that time, on April 20, 2022, Aoi received R$14.5 billion. It has now raised an additional R$821.4 million through the agreement.

Hail (SLED4)

Saraiva (SLED4), which had until then been in the judicial recovery phase, filed for self-bankruptcy with the Second Bankruptcy and Judicial Recovery Court of the Central Court of the Capital District of São Paulo State.

Over the past few years, without being able to get back on its feet, Saraiva has reduced its physical operations and increasingly focused on online business. On the 20th, the company laid off employees from its last 5 stores.