Home Europe & UK Abengoa submits its restructuring agreement that is supported by 86 % of creditors to the Court
Abengoa submits its restructuring agreement that is supported by 86 % of creditors to the Court

Abengoa submits its restructuring agreement that is supported by 86 % of creditors to the Court

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Abengoa, a global company that applies innovative technology solutions for sustainability in the energy and environment sector, has submitted recently to Seville Mercantile Court number 2, the request for approval of its restructuring agreement that has received the support from 86 % percent of financial creditors, thereby exceeding the majorities that the Insolvency Law requires for approval, after being validated and certified by the independent auditor Deloitte.

This relevant fact, in addition to the convening of the Extraordinary Meeting of Shareholders on November 22, in which the future shareholder structure, governance and financial structure of Abengoa will be settled, marks a definitive turning point in completing the restructuring process that Abengoa has been immersed in over the past year. On completing these requirements and after the prescriptive favorable ruling from the insolvency court, the closing of the process should take place and make way for the start of a new period for the company.

The Executive Board and the Management are well aware of the circumstances that Abengoa has gone through and wish to express their utmost gratitude to all those who have contributed to overcoming this crisis: employees, shareholders, clients, suppliers, financial institutions, official agencies, new investors together with all who have been involved in the process, for their ongoing support throughout these months. There can be no doubt that without the commitment and trust that has been placed in the company it would not have been possible to overcome this situation or reach this important milestone. At Abengoa we are now eager and resolved to build a successful future in which both the financial stability and the regularity of our activities will be restored gradually.

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Anand Gupta Editor - EQ Int'l Media Network

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