Cambuhy, itasa and Gávea evaluate buy Alpargatas Baptist brothers

The J&F, the holding company of the brothers Joesley and Wesley Batista, is advancing in the negotiations for the sale of Alpargatas, owner of Havaianas. Yesterday, the holding company announced the signing of a confidentiality agreement with the Cambuhy Fund, an investment arm of the Moreira Salles family, members of Itaú Unibanco. Itaúsa, a company of family Setubal, also a member of the country''s biggest private financial institution, will participate in the analysis of the asset. The State found that Lehman, the former President of the Central Bank, Arminio Fraga, can also join the Cambuhy and Itaúsa to evaluate the business.
Sources close to Alpargatas stated that the process of Hawaiian owner is competitive, although the Cambuhy is pointed to as a favorite.
As published the State, most of the investment funds that looked the Sneakers before the company be sold by Camargo Corrêa to J&F in November 2015, as Tarpon, Advent and Carlyle, have an interest in the business. The CVC Fund, which seeks active in the Country, also reviews the company. No background commented on the subject. The J&F paid R $2.7 billion by Alpargatas, a figure considered high at the time.
Early conversations. The banks Bradesco and Banco Santander, hired by Batista to lead the Sales Force, must receive proposals by the company milky way until the second half of July. Are in the running, in addition to the American Pepsico, which had already shown interest in the business, Mexican Lala, Danone, the American Coca-Cola and Kraft Foods, according to sources. Danone reported that doesn''t talk about rumors. The other companies did not return requests for interviews.
In the case of Eldorado, Chile''s Arauco is also considered the favourite to seal the deal. But Fibria, the world''s largest pulp company, is also in the running, according to sources. The companies did not comment.
Even with leniency agreement with the Federal Public Ministry, in the amount of R $10.3 billion, sources said that potential buyers of assets of the Batista brothers are going to safeguard legal safeguards to close the business.
Last week, the Federal Court of Brasilia barred the sale of JBS''s assets to the Minerva, for a total of $ $300,000,000. Sought, the J&F said he would not comment on ongoing negotiations.