Abengoa detailed yesterday afternoon, in a conference call, its restructuring plan to avoid bankrupcy. We retain the main following points: The new Abengoa will have a less capital intensive business model, leading to a refocus on Engineering & Construction and third-party projects (which is about €4.2bn revenue and double-digit EBITDA), and selected concession-type projects (minority stakes limited to 10% instead of a majority stake). A 45% reduction in structuring costs expected in
17 Mar 2016
New restructuring plan: a heavy price to pay for shareholders
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New restructuring plan: a heavy price to pay for shareholders
Abengoa detailed yesterday afternoon, in a conference call, its restructuring plan to avoid bankrupcy. We retain the main following points: The new Abengoa will have a less capital intensive business model, leading to a refocus on Engineering & Construction and third-party projects (which is about €4.2bn revenue and double-digit EBITDA), and selected concession-type projects (minority stakes limited to 10% instead of a majority stake). A 45% reduction in structuring costs expected in