November 10, 2016 / 11:12 AM / 2 years ago

Brazil's Oi picks Laplace as debt adviser -source

SAO PAULO, Nov 10 (Reuters) - Phone carrier Oi SA, which in June filed for Brazil’s largest ever in-court reorganization, has hired financial advisory firm Laplace Finanças to restructure about 41.2 billion reais ($13 billion) in debt with banks and bondholders, a person with direct knowledge of the situation said on Thursday.

The board of Rio de Janeiro-based Oi formalized the hiring of Laplace at a meeting on Wednesday, said the person, who requested anonymity because the matter remains private.

Laplace, which is based in São Paulo, replaces PJT Partners Inc as Oi’s adviser on the renegotiation plan.

Oi declined to comment. Laplace’s senior partners were not available for immediate comment.

$1 = 3.2375 reais Reporting by Guillermo Parra-Bernal and Ana Mano; editing by Jason Neely

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