InterCement Participações SA (“InterCement”) has filed for judicial reorganisation in the Bankruptcy and Judicial Reorganisation Courts of São Paulo, along with its parent company, Mover Participações SA, and subsidiaries InterCement Brasil SA, InterCement Financial Operations BV, InterCement Trading e Inversiones SA, and InterCement Trading e Inversiones Argentina SL.
The decision follows over a year of efforts to restructure financial indebtedness. Previous measures included a precautionary mediation process announced in July 2024 and an out-of-court reorganisation plan revealed in September 2024. However, an inability to reach a definitive agreement within the required timeframe prompted the company to pursue judicial reorganisation as the most effective option.
The company stated that the reorganisation would stabilise operations, ensuring its ability to continue serving customers, suppliers, employees, and business partners effectively. “This filing will provide stability for the applicant companies, preserving their ability to continue to operate effectively, generating value for their customers, suppliers, employees and business partners,” a statement from InterCement noted.
As a result of the filing, the exclusivity agreement for the potential sale of 100 per cent of InterCement’s share capital has been terminated. The company reiterated its commitment to rebalancing its capital structure and maintaining the quality of its products and services during the restructuring process.
InterCement assured stakeholders that it remains focused on operational strength and reaffirmed its commitment to maintaining strong relationships with its business partners. “InterCement trusts that the judicial reorganisation is a necessary step to enable it to rebalance its capital structure while allowing the company to uphold its focus and commitment to maintaining the exceptional quality of its products and services, as well as its relationships with its customers and business partners,” the company added.
Further updates on the judicial reorganisation process will be provided by InterCement as developments occur.
