abengoa viability plan


Abengoa's sale of Atlantico Yield

Abengoa finalises details of the sale of its Atlantica Yield subsidiary

Abengoa is trying to finalise the details which will allow it to go ahead with the sale of Atlantica Yield (Nasdaq:ABY) which manages electricity assets and has an approximate market value of $2.16 billion (around 1.93 billion euros). Abengoa has two options for closing the sale: Firstly, the direct handover of its 41% stake in ABY to the funds, including Brookfield, secondly placing blocks of its shares on the market.


Abengoa4TC

Moody says continued uncertainty over Abengoa’s viability plan

While acknowledging that Spanish renewable energy and engineering firm Abengoa’s restructuring plan would ease its debt burden, Moody’s has cast doubts over whether it will be successful. Earlier this month, Abengoa reached a debt restructuring deal with its main creditors in an attempt to avoid Spain’s biggest ever bankruptcy. It had been in talks with lenders since November 2015 to reduce its over 9 billion euros debt pile.

 


Abengoa-mas

The Solution To Abengoa’s Problems Doesn’t Even Convince Analysts

The approval by Abengoa’s board for its viability plan led us to hope that it could be going in the right direction. But as the days pass, the balloon is beginning to deflate and the company, which was the first big Andalusian multinational, is now doing everything it can to avoid being engulfed in Spain’s biggest ever insolvency situation. But it’s not having much success.