The procedure has advanced. Celsa’s creditor funds initiated the required steps to secure an investment permit from the state, and Rubiralta’s ownership has been transferred to the Rubiralta family. This milestone follows a formal confirmation and comes as Commercial Court No. 2 of Barcelona weighs the restructuring plan presented by the creditor funds representing the Celsa Group. The decision now moves to the council of ministers, which will outline the terms of the operation and its timeline.
Both the government and the Generalitat, together with the creditor groups, have shown a definitive and binding commitment to safeguard the company’s long-term viability. Their actions aim to preserve the group’s decision-making in Spain and protect employment and production capacity within the strategic steel sector, which directly supports around 10,000 workers.
independent council
In parallel, the government, creditors, and the company are advancing the establishment of an independent board of directors and the involvement of an industrial partner. This arrangement is intended to strengthen governance and operational oversight. The funds have stated to the government their unwavering commitment to clarify and fortify Celsa’s financial position, to preserve its workforce and productive capacity in Spain, and to pursue other previously declared objectives.
Creditors have also signaled their readiness to collaborate with all stakeholders to meet the aims laid out by the government. They have promoted transparent communication channels with various administrative levels and with workers’ representatives to ensure clarity and accountability throughout the process.
Currently, the funds are already fulfilling some commitments presented to the government, including pursuing the investment permit in Spain and appointing a new executive leader. Rafael Villaseca, formerly chairman of Gas Natural, now Naturgy, has been named chairman of the independent board of directors. As for the remaining commitments, they indicate that those will be carried out as the process unfolds (Source: official government and creditor statements).
The court ruling permits creditor funds to retain full ownership of the largest Catalan family business if Rubiralta’s liabilities exceed 2.5 billion euros, a figure that surpasses the prior valuation of the entire Celsa group. Approximately 10,000 people are employed in Spain by the company, which records an annual turnover near 6 billion euros, underscoring the sector’s economic footprint and strategic importance to the region (Source: court documentation and financial disclosures).