creditor funds announced this Friday that they have officially taken control of the ownership of the steel giant Celsaemploying some 10,000 workers all over Spain. Catalonia’s largest family business to date is no longer under the leadership of the Rubiralta family and is falling into the hands of many shareholders who bought up the million-dollar loans contracted by Catalan industrialists at the time.
Celsa’s new owners won the legal case last September, and official approval of the operation was awaited. He was hovering over the possibility that the Government would intervene and stop the transfer, as Celsa was considering a strategic business network and opened an uncertain scenario for its factories and workers, which required special protection.
This was not the case; The new Management, installed a few days ago, blessed the operation and the new masters handed over the reins of the business network to Rafael Villaseca, who will become the new non-executive chairman, replacing Francesc. Rubiralta. The following people will sit in the CEO seat: Jordi Cazorla.
The new owners of Celsa, including banks such as Deutschebank or funds such as HSBC and SVP Global, thus officially finalize the change of ownership. The funds also improved the composition of part of the board. Daniel AlaminosThe State Attorney will be the secretary of the council. And they will enter temporarily independently Maria Esther Alfonso Evisa, Antonio Arenas Rodriganez, Francisco Javier Díaz-Gálvez from Oda And Luis Aurelio Martin Bernardo.
“These appointments take place within the framework of the implementation of the restructuring plan, approved by court decision at the beginning of September, which will allow Celsa to reduce its debt by 1 billion 400 million euros and extend its maturity by 5 years until October 2028. The remaining debt will make the company’s financial situation much better.” brings,” the new owners said in a statement.