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{"id":372351,"date":"2025-10-13T10:29:51","date_gmt":"2025-10-13T08:29:51","guid":{"rendered":"https:\/\/ga-p.com\/?post_type=noticia&p=372351"},"modified":"2025-10-13T11:06:38","modified_gmt":"2025-10-13T09:06:38","slug":"miguel-lamo-de-espinosa-analisa-o-aumento-das-compras-de-divida-corporativa-apos-o-caso-celsa-el-confidencial","status":"publish","type":"noticia","link":"https:\/\/ga-pstg.servidortemporal.net\/pt-pt\/noticia\/miguel-lamo-de-espinosa-analisa-o-aumento-das-compras-de-divida-corporativa-apos-o-caso-celsa-el-confidencial\/","title":{"rendered":"Miguel Lamo de Espinosa analisa o aumento das compras de d\u00edvida ap\u00f3s o caso Celsa | El Confidencial"},"content":{"rendered":"
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Miguel Lamo de Espinosa, s\u00f3cio da G\u00f3mez-Acebo & Pombo, destaca que um n\u00famero crescente de fundos est\u00e1 interessado em adquirir d\u00edvida de empresas com dificuldades financeiras, com o objetivo de, posteriormente, convert\u00ea-la em capital ou intervir na empresa.<\/h4>\n\n\n\n

Ve\u00edculos especializados em d\u00edvida e alguns fundos de private equity<\/em> est\u00e3o cada vez mais interessados em adquirir posi\u00e7\u00f5es em empresas com situa\u00e7\u00f5es financeiras complexas, com a possibilidade de transformar essa d\u00edvida em capital ap\u00f3s uma reestrutura\u00e7\u00e3o. A estrat\u00e9gia, apoiada pelo quadro concursal aprovado em 2022, permite intervir antes das empresas entrarem em pr\u00e9-insolv\u00eancia, preservando a sua sustentabilidade a longo prazo e evitando bloqueios por parte dos acionistas ou credores.<\/p>\n\n\n\n

Segundo Lamo de Espinosa: \u201cFundamentalmente, o interesse est\u00e1 nos fundos de cr\u00e9dito ou em situa\u00e7\u00f5es especiais. Os fundos de private equity mostram interesse, mas \u00e9 mais dif\u00edcil para eles entrar neste tipo de situa\u00e7\u00f5es. \u00c9 um processo de aprendizagem: n\u00e3o se trata de comprar empresas em dificuldade, mas de comprar empresas saud\u00e1veis no contexto de um processo distressed. A diferen\u00e7a \u00e9 consider\u00e1vel.\u201d<\/em><\/p>\n\n\n\n

O caso Celsa foi paradigm\u00e1tico: os detentores de obriga\u00e7\u00f5es capitalizaram d\u00edvida, apesar da oposi\u00e7\u00e3o dos acionistas, e assumiram o controlo da empresa. Outros exemplos recentes incluem Naviera Armas, Telepizza, Ezentis e Mr. Wonderful. A tend\u00eancia consolida-se enquanto a atividade tradicional de M&A continua parada, e os fundos de capital de risco come\u00e7am a explorar este caminho como alternativa para gerar valor e rentabilidade futura.<\/p>\n\n\n\n

\n\n Ver not\u00edcia<\/span>\n
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Advogado mencionado<\/div>\n
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\n <\/span>\n Miguel Lamo de Espinosa<\/a>\n – S\u00f3cio<\/span>\n <\/p>\n <\/div>\n <\/div>\n \n

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Tipolog\u00eda<\/div>\n

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\u00c1reas e sectores<\/div>\n

\n <\/span>\n Reestrutura\u00e7\u00f5es e Situa\u00e7\u00f5es Especiais<\/a>\n <\/p>\n <\/div>\n <\/div>\n<\/div>\n\n<\/div>\n<\/div>\n\n<\/div>\n\n <\/div>\n\n<\/div>\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Miguel Lamo de Espinosa, s\u00f3cio da G\u00f3mez-Acebo & Pombo, analisa como fundos de cr\u00e9dito e de private equity estudam adquirir d\u00edvida de empresas em dificuldade, com o objetivo de a converter em capital ou intervir na empresa ap\u00f3s a sua reestrutura\u00e7\u00e3o.<\/p>\n","protected":false},"featured_media":0,"template":"","categoria":[272],"class_list":["post-372351","noticia","type-noticia","status-publish","hentry","categoria-mencao"],"acf":[],"yoast_head":"\nMiguel Lamo de Espinosa analisa o aumento das compras de d\u00edvida corporativa<\/title>\n<meta name=\"description\" content=\"Miguel Lamo de Espinosa, analisa como fundos de cr\u00e9dito e de private equity estudam adquirir d\u00edvida de empresas em dificuldade, com o objetivo de a converter em capital ou intervir na empresa ap\u00f3s a sua reestrutura\u00e7\u00e3o.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta 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