Alpargatas confirms sale to itasa and Cambuhy R $3.5 billion

The Alpargatas confirmed on Wednesday (12) that your controller, the J&F group, sold to 54.24% performance in your company Itaúsa, Cambuhy investments and Brazil Warrant (BW) by $3.5 billion. Second statement sent to the Brazilian Securities Commission (CVM, the capital market regulator), the payment of the purchase will be made in plain sight on the closing date of the deal. Itaúsa, a holding company that controls Itaú will pay 50% of the total amount, i.e. R $1.75 billion. Moreira Sales family, one of the housewives of Itaúsa, participates in the business in three ways. She also holds the BW resources manager and takes part in Cambuhy Investments. The deal still depends on the green light of the Administrative Council for economic Defense (Cade) and other market approvals. "Itaúsa, BW and Cambuhy are confident that the Sneakers, with the collaboration of its employees and executives, will continue your growth trajectory and identify new opportunities to maximize value creation to its diverse audiences," they note buyers. Alpargatas is a leader in the footwear industry in Latin America and owner of brands such as Havaianas and Osklen. Also has exclusive license to sell the Mizuno brand in the country. The company has more than 700 stores in the world, the majority of the Hawaiian flag, and still sells its products in other 150,000 multi-brand points in Brazil. It exports to more than 100 countries In 2016, the company grossed R R $358,400,000 $4.05 billion and profit. Crisis in J&F sale of Sneakers is announced after weak flesh and the scandal involving the payment of bribes by the owners of J&F, Joesley Batista, and Wesley. The J&F is also the refrigerator controller JBS, which last month announced the sale of assets in Argentina, Paraguay and Uruguay to the rival Minerva, to reduce your debt and raise resources. The transaction, however, is suspended for Justice on behalf of investigations which process irregularities in granting credit to JBS for National Bank economic and Social Development (BNDES).