São Paulo – PDG Construction Company (PDGR3), which was considered the leader of the civil construction market in Brazil, at the beginning of the last decade, left the process of judicial reorganization.
In accordance with the relevant fact, the closing of the operation was handed over by the First Bankruptcy Court and the judicial reorganization of the judicial district of the capital of São Paulo on Thursday (14).
“The judicial reorganization of the PDG allowed the restructuring of obligations worth more than R$5.3 billion by more than 22,000 creditors,” he reported.
Thus, in accordance with the ruling, the PDG has fulfilled all obligations under the Judicial Reorganization and Amendment Plan, approved respectively in 2017 and 2020.
It gained market leadership by purchasing Grupo Agreement, in 2010, a company that resulted from the merger of Agra, Klabin Segall and Abyara. At the time, PDG was worth over R$9 billion on the stock exchange.
In the first six months of 2021, the company recorded a net loss of R$505 million, increasing its losses by 39.6% compared to the same period in 2020.
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