Global Analysis from the European Perspective. Preparing for the world of tomorrow

Abengoa bankruptcy filing marks Spain’s biggest corporate failure

  • Spain’s Abengoa (OTCPK:ABGOF, OTCPK:ABGOY) says it filed a request for bankruptcy before the court in Seville, becoming the country’s biggest company to go bust.
  • The renewable energy company had €7.9B ($9.6B) in liabilities as of March 31, of which €3.9B were net corporate debt, according to its latest earnings statement.
  • Abengoa’s restructuring deal with creditors fell apart after it failed to secure €20M from Andalusia’s regional government. Source Seeking Alpha

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