Spanish companies rescue

congreso diputados1

The State To Enter Spanish Companies Via The Purchase Of Shares, Debt Or Other Convertible Instruments

The fund worth €10 Bn will rescue companies with solvency problems such as airlines and hotel chains damaged by Covid-19. It will be managed by the State Society of Industrial Participations (SEPI) and will allow the state to temporarily enter, for 6 or 7 years, the capital of private firms This will be done with the purchase of shares, debt or any other instrument convertible into capital. If after that time the company needs additional support, it will need a restructuring plan which will be transferred to Europe.