Avibras gets new majority shareholder as it seeks financial recovery
The Avibras Astros II multiple rocket launcher in Brazilian Marine Corps service. If the latest restructuring effort is successful, Avibras could resume production of rockets for the system. (Victor Barreira)
Brazilian munitions maker Avibras has a new majority shareholder after nearly two years of trying to find a path to financial recovery.
Vita Investimentos is committed to managing the company in accordance with the guidelines of the judicial reorganisation plan approved by creditors at the general creditors' meeting on 26 May, Avibras said in a statement on 6 August.
Founded in 2016, Vita Investimentos is a financial consulting firm specialising in financial planning, investment consulting, and project evaluation. The company is owned by Fábio Guimarães Leite, who is also the current provisional director of Avibras, according to a statement by the Metalworkers Union of São José dos Campos and Region on 8 August.
The shares were passed by former Avibras owner, João Brasil Carvalho Leite, to investment funds managing company Brasil Crédito on 25 June. Brasil Crédito, which is a creditor, passed the shares to Fábio Leite.
Fábio Leite is now the majority shareholder of Avibras, with 99% of the shares, and will be responsible for leading the company's restructuring.
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