Company studies buying debt from W Torre for the construction of Allianz Parque

In the year in which it celebrates 10 years of life, Allianz Parque, Palmeiras’ stadium, may gain a new administrator. According to the newspaper O Globo, Reag Investimentos, owned by João Carlos Mansur, is studying the possibility of purchasing W Torre’s debt with Banco do Brasil, relating to the construction of Allianz Parque.

The information was initially published by “O Globo”.

Reeve, a company owned by Luis Davantel, former CFO of WTorre, would be negotiating with Banco do Brasil to purchase the debt of the construction company and current administrator.

Known for participating in bids for some stadiums, such as Fonte Luminosa, REVEE and Reag Investimentos are today the main companies interested in the process of purchasing the rights to the stadium.

While the market is beginning to look favorably on the idea of ​​taking over the stadium, Palmeiras is demanding around R$160 million from WTorre in court. The fight even reached the Superior Court of Justice (STJ), which denied the stadium administrators’ appeal and required the demonstration of bank guarantees for the payment of the amounts owed to Verdão.

WTorre states that it already presented guarantees last week that it can pay off the R$ 160 million it owes to Palmeiras. The debt would be due to the lack of transfers since 2015, which are part of the agreement with the São Paulo club.

WTORRE POSITION

Real Arenas informs that it is strictly up to date with the payment of the loan made by Banco do Brasil for the construction of Allianz Parque.

The company is not aware of possible negotiation of the debt by the financial institution to third parties. Even if the debt is purchased by another company, this will not mean a change of ownership or command of the stadium’s operation, which will remain with Real Arenas.

Finally, WTorre has no relationship with Reeve.