Americanas' board of directors sold R$ 241 million in shares before the financial hole became public, says website.
Between July and October 2022, the retailer's directors purchased R$18 million worth of shares, leaving a net sale of R$223 million.
247 - Americanas' board of directors sold R$ 241 million worth of shares between July and October 2022, months before the retailer discovered accounting inconsistencies amounting to R$ 20 billion, according to reports. MetropolisDuring that period, the directors purchased R$ 18 million worth of shares. The value of the shares was calculated based on public documents provided by the company to the Securities and Exchange Commission (CVM).
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September was the month with the highest volume of stock sales, according to the website. The previous month, Americanas shares soared, rising almost 17%, after the announcement that Miguel Gutierrez, who had been the company's president for more than two decades, would be replaced by Sergio Rial, former president of Santander.
Rial, who took over the retailer at the beginning of this year, ended up resigning after less than 10 days at the helm, in the face of the billion-dollar deficit.
The asset management firm 3G, controlled by Jorge Paulo Lemann, Beto Sicupira, and Marcel Telles, holds 31% of Americanas' shares. According to data from the CVM (Brazilian Securities and Exchange Commission), they did not make significant sales of shares.
CVM said on Thursday (12) that it is “taking all appropriate measures for the proper and careful clarification of all acts, facts and events in relation to the Americanas case”.
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