Oi receives 26 million euros with property sale

  • ECO News
  • 31 January 2020

Brazilian Telecom is carrying out a plan to divest non-strategic assets in line with the Judicial Recovery Plan.

Oi has received 120.5 million reais (about 25.7 million euros) with a new sale, which is included in the plan for the sale of non-core assets of Brazilian telecom. In a press release to the market, Oi – whose biggest shareholder is the Portuguese holding company Pharol – announced that it closed the sale to Alianza Gestão de Recursos.

The company “celebrated a private instrument of promise to sell property of its property, located at General Polidoro Street nº 99, Botafogo, in the city of Rio de Janeiro, to Alianza Gestão de Recursos Ltda., for the amount of 120.5 million reais, continuing its project of sale of non-core assets”, as explained in a statement.

The program for the sale of non-strategic assets is in line with the Judicial Recovery Plan in which Oi is involved. The effective transfer of the property and the receipt of the amount are scheduled for March, after compliance with the contractual conditions, the company also said in a statement.

“The operation was authorized by the Judge of the 7th Business Court of the State of Rio de Janeiro, after the favorable opinion of the Public Prosecution Service of the State of Rio de Janeiro and the Judicial Administrator. Likewise, the National Agency of Telecommunications – Anatel confirmed the disengagement of the Property from the List of Reversible Assets of the Company”, he added.