Brazilian construction company OAS SA won approval for its restructuring plan early Friday after agreeing to sell one of its most valuable assets in order to help pay creditors.
The vote, which had been scheduled and postponed on several occasions since September, went forward after OAS secured a deal to sell its stake in airport operator Invepar for at least 1.35 billion reais ($343 million), the company’s press office said. Debt secured by OAS Investimentos assets will get about 20 cents on the dollar, while debt with no such guarantee will recover just shy of 20 cents. OAS bonds due in 2019 traded at 4.5 cents on the dollar earlier this week.
Brazil Energy Insight 
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