Vamos shares (VAMO3) lead Ibovespa's fall this Thursday (3) (Image: Vamos/Disclosure)
The actions of Let's go (VAMO3) led the Ibovespa's declines this Thursday (3), marking the third consecutive day of decline, with the market evaluating the strategic reorganization announced by the company.
At around 11:45 am, the share fell 9.62%, to R$5.45, although it reduced the fall to 6.80% in the early afternoon.
Earlier, the company confirmed the hiring of Bradesco BBI to act as financial advisor to the Independent Committee in the Strategic Reorganization Operation, which will result in the creation of a new company listed on the B3.
At the beginning of the week, the Simpar (SIMH3) communicated its intention to separate from the Let's gowhich would only rent trucks, machinery and equipment, and combine the company's leasing arm with Automob, also a subsidiary of the company.
The full completion of the operation is scheduled for December, with the start of trading of the new company's shares on the stock exchange.
Analyst Luan Calimério, from BB Investimentosrecalled that the transaction will take place in three “acts”:
- Separation between Vamos Licação and Vamos Concessionárias: Vamos Locação will issue new shares, proportional to Vamos Concessionárias, segregating its businesses;
- Acquisition of Automob: Vamos Concessionárias, now segregated, will acquire ~35% of Automob via payment of R$1.0 billion to Simpar. Payment will be financed by a line of credit for the total value of the operation, without cash disbursement (and consequent increase in leverage) by the company;
- Incorporation of Automob: After acquiring ~35%, there will be a merger of the two companies, Vamos Concessionárias and Automob, thus creating the new company, which will maintain the Automob name.
Calimério points out that as a consequence, the shareholding of the new company will be 64.12% for Simpar; 21.39% to the minority shareholders of Vamos Locação; and 14.49% for minority shareholders of the “old” Automob.
In this way, the current shareholders of Vamos will hold shares in both companiesVamos Rental and “new” Automob, both listed.
See the statement sent to the market this morning