Grupo Pão de Açúcar secures approval for R$ 4.5 billion debt restructuring

The São Paulo Court has approved the extrajudicial recovery plan for Grupo Pão de Açúcar (GPA), a major Brazilian supermarket group. The plan involves the renegotiation of approximately R$ 4.568 billion in unsecured debts (créditos quirografários) that are not related to current supply operations, services, or rent.

The restructuring received support from creditors representing 57.49% of the subject credits, exceeding the legal requirement for approval. Following the court's decision, the company will proceed with implementing the plan, which includes the formalization of R$ 200 million in new resource procurement to improve liquidity and debt servicing.

GPA stated that its daily operations continue normally and that it remains up to date with obligations to suppliers, customers, and partners not included in the extrajudicial recovery. Following the announcement, the company's shares saw a significant increase on the stock exchange.