Hobby Harry announces R$ 2.8 billion agreement to aid judicial reorganization – 10/31/2021 – Market

Hobby Harry Group announced on Sunday night (31) the closing of an agreement worth 500 million US dollars (about 2.8 billion Brazilian reais) to restructure, expand and develop the theme park of the same name with Whitehall & Company LLC.

second note, The agreement with Whitehall will bring greater financial peace of mind and help the group To comply with the judicial reorganization plan the park has faced since 2016.

Contract, In addition to considering the group’s obligations to its creditorsIt should also help plan new attractions in the park and in the real estate development of its land, in Vinhedo, in the interior of São Paulo.

“Whitehall is the leading real estate investment bank offering direct and investor-managed investments in North America, Latin America and the Caribbean, with combined assets of trillions of dollars and experience in the sector through the Great Wolf Lodge’s Apollo Global Management Fund and aquatics portfolio.”

Also according to the note, Hobi Hari is waiting Formalization of approval of the Convention by the Assembly From creditors, which is scheduled for next Wednesday (3).

The memo continues, “emphasizing once again its commitment to operate transparently and responsibly, and reaffirming that the goal that directs its business is to protect its creditors, through the continuation of its activities.”

No Saturday (30), Report for a sheet Show that Beto Carrero World and Playcenter theme parks have merged To make an offer to buy Hobby Harry. Wet’n Wild, Senpar, RTSC and KR Capital are also part of the group that made the proposal.

The proposal includes the repayment of a debt of R$250 million from the park and anticipates more than R$150 million in investments. The offer was also due to be considered at next week’s meeting.

However, Hobby Harry has questioned the proposal and potential interest in investing in the park shown by two of its main competitors. The park said, in a statement, that the group consisted of representatives from the same field of activity, which raised doubts about the true intentions of the proposal.

The group responded by saying that the purchase of Hopi Hari “would be just the beginning of a major tourism investment in the region”. Vinhedo, Itupeva, Jundiaí and Louveira (about 75 km from the capital of São Paulo) have other attractions, such as Wet’n Wild Park, Quality Resort, and SerrAzul Shopping Center.

NS The Sao Paulo government plans to open the Sierra Azul tourist area on November 30 In an area of ​​41 square kilometers that includes cities.