SEPI pre-approves Celsa’s bailout for 550 million

Front green light for the biggest rescue Industrial Holding State Company (SEPI) until date. This publicly traded company, which manages the Government-created fund for Covid for strategic companies, has confirmed the dossier of the Catalan steel company. Celsa In mid-2020, it requested aid of 550 million euros. Therefore, as the business newspaper Expansión advances this Thursday, and as confirmed by EL PERIÓDICO DE CATALUNYA, a media outlet belonging to the same publishing group as this newspaper, the bailout is also the mechanism that governs aid to firms such as Air Europe, rough felguera anyone avians (the result of the merge between barcelona Y spherical).

Of the 550 million Euros that Celsa will initially receive, just over half (280.5 million) will reach the company in the form of a participation loan, while the remainder, approximately 270 million, will reach the company through a regular loan. In any case, the transaction must still go through the fund’s board of directors and first of all, waiting for the approval of the creditors of the firm.

Companies that bought this company’s debt, as the Europa Press news agency recalled, Castellbisbal (Barcelona) has sculptor, resume, Senior Vice President, Goldman Sachs, golden tree, transoceanic, JP Morgan, attesting Y German bank. The group owes more than 2,000 million euros in Spain. It ended in 2021 with a turnover of around 5.3 billion euros.

In addition, since the participation loan exceeds 250 million Euros, this economic injection is also European Commission and then minister council. In principle, the latter should not be a problem: The government appreciates that the steel company’s headquarters remain in Spanish territory and keep the size of its workforce intact.

If confirmed, this would be the largest operation SEPI has authorized through this fund, equipped with €10,000 million, considered strategic for productive tissue, aimed at strengthening the commercial solvency of non-financial companies affected by covid. He said it was regional and had no pre-pandemic problems. However, so far this mechanism has distributed just over 2,000 million euros, less than half of the 5,300 million claimed.

Among the largest grants to date is the rescue of Air Europa for 475m euros. collected techniques 320 million euro injection for 340 million avians (company resulting from the integration of the Barceló and Globalia groups) or the transfer of 241 million to the hotel group Hotusa. Hotel companies have recently joined the list, which includes 21 companies that do not count Celsa yet. hesperia (55 million), abba (30 million), Julia (38 million) and Mediterrenian (28 million), four of which were approved in the last Cabinet.

Source: Informacion

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

More from author

Lawyers described the work on the release of Russian sailors from Greek prisons

Lawyers at the international conference “Legal and social problems of the migration crisis. International experience”, talked about the work on the release of...

Statement by the US on North Korea’s missile attacks

The United States is aware of North Korea's recent missile tests and does not believe they pose an immediate threat to the United States...