PE-Backed Lacteos Brasil Files for Bankruptcy


Brazilian dairy producer Lacteos Brasil SA LBR, which is partly owned by private equity firm Laep Investment Ltd, filed for bankruptcy protection under Brazilian law late on Thursday, according to a securities filing. Laep has an indirect stake in LBR through investment holding company Monticiano SA. It had announced last month the sale of $10 million of shares to bolster its capital against potential losses in key investments, Reuters reported.

(Reuters) – Brazilian dairy producer Lacteos Brasil SA LBR, which is partly owned by private equity firm Laep Investment Ltd, filed for bankruptcy protection under Brazilian law late on Thursday, according to a securities filing.

Laep has an indirect stake in LBR through investment holding company Monticiano SA. It had announced last month the sale of $10 million of shares to bolster its capital against potential losses in key investments.

(Reporting by Alberto Alerigi Jr.; Writing by Silvio Cascione; Editing by Lisa Von Ahn)