Ambipar in Talks to Hire Adviser for Debt Negotiations

Brazilian waste-management company Ambipar Participações e Empreendimentos SA is in advanced talks with law firm Cleary Gottlieb Steen & Hamilton for a debt restructuring mandate, according to people familiar with the matter.

Negotiations are still ongoing and there are no formal mandates in place, the people said, asking not to be named discussing a private matter. A group of bondholders is also preparing for talks, one person added.

Representatives for Ambipar and Cleary declined to comment.

Ambipar was granted emergency protection against its creditors Thursday after telling a Rio de Janeiro court it was at risk of financial collapse after ...