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Abengoa Mexico comes out of its insolvency process

  • The company has received court approval for its insolvency process, in which it was immersed since December 2016.
  • The Court approves such a ruling after more than 95 % of the company’s stakeholders supported the Insolvency Agreement which was put forward by Abengoa.

 

January 23, 2018 – Abengoa (MCE: ABG/P:SM), the international company that applies innovative technology solutions for sustainability in the infrastructures, energy and water sectors, has received court approval for the insolvency agreement issued by the Sixth District Court in Civil Matters, of Mexico City, which allows the company, among others, to exit the insolvency in which it had found itself since December 2016.

This ruling comes after Abengoa Mexico achieved a final support from 95.696 % of the total number of creditors with regard to the Insolvency Agreement. The document was filed to the Court that is involved with the case on June 15, 2017.

With this court ruling, all creditors of Abengoa Mexico are obliged by the Insolvency Agreement; the “conciliador” has been ordered to cancel the registry entries made with reason of the insolvency and the status of the company’s insolvency is terminated, among other features.

Mexico is one of the strategic countries for Abengoa, both for its construction and operational assets and for its market size. Therefore, this ruling means an important milestone in order to boost the company’s business in the geography.  

Abengoa continues to bank on its activity in Mexico, a country in which the company has 36 years of history as well as investments and operations with local companies (suppliers, investors and local banks). Thanks to this court ruling, Abengoa will be able to continue with its debt repayment in Mexico and restore the confidence in the company’s activity and viability.

About Abengoa

Abengoa (MCE: ABG/P: SM) is an international company that applies innovative technology solutions for sustainable development in the infrastructure, energy and water sectors. (www.abengoa.com)

Communication Department

Marián Ariza Narro

Tel. +34 954 93 71 11

E-mail: comunicacion@abengoa.com

Investor Relations & Capital Markets:

Izaskun Artucha.

Tel. +34 954 93 71 11

E-mail: ir@abengoa.com

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