Ambipar Chief’s Collateral Wrested Away in Brazil Utility Deal
A Cia. de Saneamento Basico do Estado de Sao Paulo water storage tank in Sao Paulo.
Photographer: Victor Moriyama/BloombergThe head of embattled Brazilian firm Ambipar Participacoes e Empreendimentos, along with a co-investor, appeared to lose their collateral in a debt issuance over the weekend when creditors’ representatives moved to seize their shares in a hydroelectric power company.