Duro Felguera considers that the State Society of Industrial Participations (SEPI) could formalize this Wednesday, February 12, at the meeting of the Board of Directors of La Asturiana its decision to capitalize on the debt of the engineering company, according to sources close to The negotiations consulted by Europa Press. The company’s shares shoot 15% in the stock market today.
The company, within the framework of its plan drawn after having requested the pre -conclusion of creditors on December 11, sees “essential” that the SEPI, which has two seats in the Board of Directors, turn its debt into capital.
Taking into account that there is a month left for the term of the preoconcia culmino, specifically, on March 11, this Wednesday the Board of Directors of Hard Felguera will meet.
“It is a normal meeting within the preoccove,” they have pointed out the same sources, which say that Duro Felguera has been working on the measures to be taken.
Specifically, the Government, through the SEPI, would have to turn the 120 million euros that “lent” in the middle of the pandemic, which would give him the majority of the capital, as he has advanced this Tuesday ‘ El Confidencial ‘.
Along these lines, the Minority Shareholders’ Union (SAM) of Duro Felguera has urged the SEPI to transform the loans of the Asturian into capital. “The SAM is ready to represent minority shareholders and demand a solution,” he defended.
“The SEPI has responsibility in case of not converting participatory loans into capital and not facilitating that Duro Felguera achieves financing and guarantees with guarantee of the State, since the company has managed by appointing three counselors, without the minority being able to have a single representative ”, As explained to Europa Press the president of Sam, Eduardo Breña.
The Asturian requested the pre -conclusion of creditors on December 11 before the courts of the commercial of Gijón in order to initiate a negotiation for the approval of a restructuring plan, which allowed its future viability and the conservation of the greatest number of positions of positions of possible work.
In this context, the Spanish company has enabled a section of ‘assets for sale’ on its website, which would mean a focus of divestments, among which certain real estate could include, for Duro Felguera and a liquidity source.
Exchange suspension
The National Securities Market Commission (CNMV) decided on November 25 to suspend the Felguera Hard Bolsa contribution, after the Algerian Energy Company Sonelgaz presented to the Chamber of Commerce and Industry of Algeria an arbitration request against the company against the company of Asturian engineering for the suspension of the Djelfa contract in Algeria.
In this application, Sonelgaz asked to raise the suspension of the contract and resume the work, as well as compensation of about 413 million euros.
After being made available to the body chaired by Carlos San Basilio “sufficient information” of the circumstances that advised the adoption of the suspension agreement, the CNMV raised the precautionary cancellation that weighed on the price of a hard felguera last December 13, two two days after the Asturian requested the pre -conclusion of creditors to achieve “future viability.”
The fall that accumulates in the continuous market, since last December 12, day before its return to the parquet, to date, is almost 50%.
