The last asset of the Shipyard will only be auctioned in March

The last asset of the Shipyard will only be auctioned in March

The auction of the last asset at Estaleiro Só, on the 15th of March, puts an end to the trajectory of one of the pioneers of the shipbuilding industry in Brazil. Almost 30 years after the end of its activities, the amount of action that the bankrupt estate has against the Union will be sold, through the then state-owned Instituto Brasileiro de Reinseguros (IRB). Although the value of these credit rights has not yet been defined – as the public appeal is still pending in court –, the minimum bid is BRL 367.2 million.

According to the announcement released by Raupp Leilões, responsible for the folder, the amount guaranteed to the buyer is R$ 106.1 million. However, the last calculation, carried out in April 2016, reached the value of R$ 982.4 million. Therefore, whoever acquires the credit must bear the risk, in case the amount determined in liquidation is less than that of the acquisition.

The public event will take place simultaneously electronically and in person. For the online modality, interested parties must register on the Auctioneer’s website within one day before the process. Anyone attending in person should go to the company’s headquarters, located at Rua Otávio Schemes, nº 3745, in Gravataí, at 2 pm on the scheduled date.

Inaugurated last year, Parque do Pontal was built in the space where the industry headquarters used to be. After the sale of the site, Melnick Even in partnership with BMPAR and Hospital Moinhos de Vento carried out the project, which includes a shopping mall, hotel, commercial rooms and doctors’ offices, in addition to a public square of 29 thousand square meters.

Shipyard History

Founded in 1850, the Shipyard actively participated in the history of Rio Grande do Sul as a supplier of supplies to imperial and provincial troops. Over its 145 years of activity, it reached its peak in the late 1940s, migrated to Ponta do Melo, in the capital of Rio Grande do Sul, and employed 3,000 employees in the 1970s.

The end of its activities occurred in 1995, when the segment lost government incentives. In 2003, the space was purchased (for R$ 7 million) in an auction by the construction company Titton Brugger, from Porto Alegre, which bought the area for R$ 7 million. Three years later, under protest from environmentalists, the construction company presented the Pontal do Estaleiro project. The project was refurbished in 2018 and presented by Melnick Even and opened in 2022.

What is this asset that will be auctioned

The bankrupt estate of Estaleiro Só is a creditor of the Union, as successor to the Instituto de Reinsurance of Brazil. This credit was constituted in an indemnity action based on an export credit insurance contract. With the Union’s appeal, the amount in question has not yet been defined, with R$ 106.1 million guaranteed by law so far.

Therefore, it is a risky business, as the minimum bid for the purchase of credit rights, however, is approximately R$ 367.2. In a favorable result for the company, the compensation due calculated in 2016 amounts to R$ 982,407,484.07.

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