step forward in Rescue of Catalan steel company Celsa. The board of directors of SEPI, the publicly traded company that manages the fund for strategic companies affected by the pandemic, has lifted the block. 550 million loan Requested by the steel company owned by the Rubiralta family.
state agency Sent documents to Brusselsp. This support for the Catalan company with an international presence is the largest ever given by the State.
SEPI’s decision has been made as creditor funds prepare a new bid to reach a settlement with Rubiralta. This agreement with the creditors was originally necessary to ensure the salvation of the people.
Creditor funds raise stakes with their latest offer and demand 75% of equity In exchange for contributing to the 50 million capital increase that Rubiraltas has agreed with SEPI. In any event, spokespersons, close spokesmen of this group of organizations confirm that this offer does not cancel the previous one.
Its chairman, Pedro Sánchez, called Deutsche Bank chairman Christian Sewing to request a change of position among the creditors of which he was a part; Christian Sewing hopes that the process in Brussels will not take long. If the procedure takes less than a week, the SEPI advisory board may refer the operation to the Cabinet next Friday and will approve it at its last meeting of the month on 28 June. The deadline for returns is 30 June.
Sources close to the steel company consider SEPI’s decision to be good news. Although an agreement with creditors has not yet been closed. In any event, public money will not be paid until a final agreement is reached.
Source: Informacion
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