Daniel Vorcaro, owner of Master Bank, has recently been looking for potential buyers for some of his business ventures. He has approached Joesley Batista, a key figure at J&F’s JBS holding company, with an offer to sell his 15% stake in the Oncoclinical hospitals network.
The news was initially reported by Lauro Jardim, a columnist for O Globo, and was later verified by InvestNews. They revealed the intention to reduce Vorcaro’s influence in the health sector company.
A contact familiar with the agreements mentioned that values have not yet been clearly defined for the assets. Another source indicated that the final details of the deal are still pending, including the signing of a transaction document. Along with the potential involvement in Oncoclinics, Joesley is evaluating the offer from the Kovr insurance company.
Negotiations are unlikely to be finished soon. Vorcaro needs to finalize the sale of the Master to the BRB for business progression.
Without legal certainty, there will be no discussions on pricing, as the value of an asset that may be taken away tomorrow is deemed zero. Consequently, the absence of legal certainty is likely to deter any potential purchases.
Oncoclinics is looking for partners to help with restructuring.
Oncoclinics is considering raising funds by performing a capital increase similar to that of the Casas Bahia group, involving the conversion of debt securities into shares. This move is expected to exclude the company’s majority shareholder, Goldman Sachs, and Daniel Vorcaro, owner of the Master Bank.
Debentists who agree to convert into equity may receive subscription bonuses and have the option to exercise within three years at a fixed price. If approved, Goldman Sachs and Vorcaro’s ownership in the company will decrease.
The company recently announced the scheduling of a Special General Meeting on September 9 to determine the approach for the capital increase.
Oncoclinicas is now considering selling off assets that are not essential to its core business of cancer treatment, after expanding its portfolio through acquisitions following a capital injection from its IPO in 2021.
