By Brazil Stock Guide – Ambipar Group’s controlling shareholder, Tércio Borlenghi Jr., saw his stake drop from 67.68% to 59.54% after the sale of 136 million common shares tied to the enforcement of guarantees by Everest FIP, an investment vehicle linked to the Opportunity Group. The transaction was disclosed in a material fact published by the company, confirming that Ambipar received a shareholder letter detailing the reduction in ownership.
According to the document, Borlenghi attributes the sale to an “undue and illegal execution” of guarantees associated with loans backed by Ambipar’s shares. The letter cites Plural Investimentos and Genial Corretora as intermediaries in the transaction, though no additional details were provided about the timing or market impact of the block sale.
The reduction — from 1.13 billion to 994.6 million common shares — narrows Borlenghi’s control over the environmental-services group, which entered judicial recovery on last Monday following the collapse of a hedge structure contracted by its finance division with Deutsche Bank. The operation, designed to offset exposure from Ambipar’s green bonds, backfired as market conditions shifted, triggering margin calls and the liquidation of complex credit-linked notes.
Deutsche Bank said in a statement that “the swap contracts executed with Ambipar were conducted fully in accordance with industry standards and applicable legal obligations.” The former Ambipar CFO, João Daniel Piran de Arruda, who structured the transactions, is at the center of internal and judicial investigations, but his legal defense refutes any accusation of personal responsibility.
Leave a Reply