Grupo Abril is sold

The Grupo Abril, owner of titles like look, and that is in bankruptcy, was sold to businessman Fabio Carvalho, specialized in restructuring of companies. With the transaction, closed for symbolic value, Oak takes some R $1.6 billion in debts and 100% control of the company created in 1950 by the family Civita.Com decadent recipes, the Publisher filed for reorganization in August. Since then, the Deloitte administers the reorganization of the company, while Alvarez & Marsal coordinates work of restructuring the business. The completion of the sale depends among other factors the injection of new resources in the group. Before that, April's creditors have to approve the plan in a recovery House, which has not yet been convened. Oak specializes in buying companies in financial crisis to restructure them. He and your investment vehicle Legion Holdings bought the Home Video, the network Leader & and nautical Bravanti company. /Reuters