Starboard is close to buying vending machine

The Starboard group, brazilian company of private equity (which purchase participation in companies) and restructuring, is about to close the purchase of control of retailer Sales machine, found the ' State '. Sources said that the company, which has a partnership with the American Fund Apollo, may make capital contribution in the retailer, which recently restructured debts of R $1.5 billion. The company – a result of the merger of Ricardo Eletro, businessman Ricardo Nunes, and insinuating, Luiz Carlos Batista, in 2010 – is in recent years in search of an investor to inject resources into the business, which has suffered a lot from the economic crisis. If the Starboard complete the operation, the shares of Nunes, and Batista will be diluted. Ricardo Nunes has 55%; Batista, 42.7%; and the family Salfer, others 2.3%. The total participation of the Starboard in business was not informed. With revenues of approximately R $5.2 billion, the vending machine has 650 stores. The retailer had 1200 shops in the country, but the crisis had to mop up the business. The Starboard was contracted by retailers to restructure a debt of RS $1.5 billion with suppliers. It's on the table also R $500 million injection through a capital increase. Last year, Sales began to renegotiate its debts with banks heavy. The Remodeler must complete in the next two weeks auditing the company. In financial difficulty for several years, the vending machine needs to recompose the resources stocks and consolidate your expansion. Today, the lack of credit with suppliers has created shortage of products, especially in equipment such as TV and stereo systems. Owner Ricardo Electro networks, insinuating, City Home, and electro Salfer Mall, the company is the third largest retailer of consumer electronics segment, behind Via retail and Magazine Luiza. Purchases. In addition to restructure debts, the Starboard has a background that so far sum $ $275 million and $ $325 million expected to reach. In addition, in December last year, the American Fund Apollo bought 20% of the brazilian company. The Fund manages $ $249 billion in assets in the world. It capitalized on the company to go shopping. At the end of last month, the company made a firm offer to acquire the participation of Odebrecht's Superhighway, railway concessionaire of passengers on the river. Although it has been directed to the Bahian group, the business can extend to 100% of the company if the other shareholders are interested in business. Sought, vending machine and Starboard not commented on the matter.