• In December of 2013, the holding company GPC Participações S.A received formal approval of its judicial recovery plan and creditor restructuring, including its subsidiaries GPC Química S.A. and Apolo Tubos e Equipamentos S.A.

– GPC Química S.A. is one of the main manufacturers of methanol and methanol derived products including resins and varnishes. The company had been under financial pressure from the increasingly high cost of natural gas and more competitive imports of lower cost methanol

– Apolo Tubos e Equipamentos S.A. is a manufacturer of welded steel tubes. The company also had been under financial pressured as a result of heavy price competition in both galvanized pipes and the black tubes segments

• Olimpia Partners acted as adviser to the GPC group to structure and negotiate its judicial recovery plan and creditor restructuring, including:

– Model and evaluate the financial feasibility of the plan

– Assisted the management on negotiations with creditors

– Worked together with legal council on negotiation and documentation

• Founded in 1929, GPC is a family controlled group with investments in several sectors of the economy, including industrial, chemical, oil & gas, renewable energy and tubes. The 3 companies under the recovery plan totaled annual sales of R$883.8 million at their peak in 2008