BTG prepares sale of Group of pharmacies BR Pharma for $1

The "cleaning" in the portfolio of investments in companies of the banco BTG Pactual should continue in the coming days with the sale, for $1, the control of the network of pharmacies BR Pharma to businessman Paul Remy, today a partner in the construction company WTorre, the State found. According to sources, Remy would have experience in taking over businesses in difficulty, because he worked in consulting Galeazzi & specializing in restructuring Associates.
BR Pharma is one of the most troubled assets in the portfolio of the BTG. The Bank tried to build a giant in pharmacies from acquisitions made in different regions of the country. However, the deal proved difficult to return and the institution had to do injections of capital in active. In January last year, for example, the injected about 400 million R$ of BTG in BR Pharma.
Since I decided to give up the pharmacies, BTG vineyard selling brands separately. In November 2015, the most economical was passed on to the bottom, R$ Verti 44 million. In 2016, the Rosary be sold to Profarma by 173 million R$. However, the value should suffer a discount, because most of the shops of the Rosary was facing shortages at the time.
To pass control of BR Pharma ahead, BTG goes out of business without receiving anything, but get rid of heavy obligations. Today, the BR Pharma boils down to Big Ben, pharmacy and franchise chain Santanna FarMais. Only for buy Big Ben, BTG spent R$ 453 million, in November 2011.
This is not the first time that the BTG invests in a heavy active to then pass it forward with symbolic value. The retail chain, popular Leader fluminense, was sold for $1 to the lawyer Fabio Carvalho. The Alvarez Marsal assumed management &.
The State sought to WTorre to talk about Remy on entry BR Pharma, but failed to return. The BTG was unavailable for comment.