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December

Abengoa successfully closes its financial restructuring in Brazil

December 20, 2019

  • The commercial judge of the Comarca de la Capital de Rio de Janeiro has delivered a judgment approving the closure of the Recuperaçao Judicial (judicial recovery) process in which Abengoa was immersed.
  • Thus, Abengoa reactivates its construction activity in the country with the aim of continuing being a reference in the transmission sector.

December 20, 2019 - Abengoa (MCE: ABG / P: SM), an international company that applies innovative technology solutions for sustainable development in the infrastructure, energy and water sectors, has successfully completed the financial restructuring process that was being carried out in Brazil after receiving the judgment handed down by the commercial judge of the region of Rio de Janeiro (Comarca de la Capital de Rio de Janeiro) declaring the closure of the so-called Recuperaçao Judicial (judicial recovery) process in which the company was immersed.

In this way, Abengoa sorts out the insolvency situation in the country and thus reactivates its construction activity with the aim of becoming again a reference in the electricity transmission sector. 

Less than 20% of the companies that enter Judicial Recovery manage to leave it, according to data from the Observatório de Insolváncia da PUC-SP, and Abengoa has achieved it within the legal minimum period meeting the milestones established in its Recovery Plan within the two-year period of judicial supervision since its approval. In the case of Abengoa, the approval of the Judicial Recovery Plan takes place in November 2017, with the prior consent of its creditors. 

Abengoa has been operating in the country for more than 20 years, focusing its activities on the electricity transmission and infrastructure sectors, where the company has built more than 7,000 km of lines and more than 30 electrical substations.

About Abengoa

Abengoa (MCE: ABG/P:SM) applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors. (www.abengoa.com)

Communication Department:

Marián Ariza

Tel: +34 954 93 71 11

E-mail: communication@abengoa.com

Investor Relations & Capital Markets:

Gonzalo Zubiría

Tel: +34 954 93 71 11

E-mail: ir@abengoa.com

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