Camargo Correa, the largest shareholder of Alpargatas with a stake of more than 44 percent, has indicated that it may sell some or all of its shares to another party, responding to interest expressed by potential investors in the parent company of Havaianas and other brands. Two international investment funds, KKR and Carlyle, are among the potential candidates to the takeover, according to Brazilian reports. Camargo Correa needs cash to finance a compensation agreement worth 700 million reais (€157.9m-$179.9m) to indemnify the victims of a major financial scandal. The conglomerate, which is also involved in real estate and other sectors, is one of 23 large companies involved in a major corruption scheme, dubbed “Lava Jato,” (Car Wash) along with Petrobras, the state oil corporation. An investigation launched in 2014 has revealed that these companies inflated the value of certain contracts to help finance the ruling party ahead of the latest presidential election.

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