Obbligazioni societarie Abengoa XS0498817542 XS1048657800 XS1219438592 XS1113021031

Abengoa has entered into a framework agreement for the investment in Abengoa with Gonvarri Corporación Financiera, a company in the Gonvarri Steel Industries

The Investment Agreement sets out the terms and conditions for the investment by Gonvarri within the framework of the share capital increase approved on October 10th, 2015 by the General Shareholders' Meeting of the Company. The Investment Agreement provides that a portion of Gonvarri’s investment, in an amount of €250,000,000, will be carried out through a share capital increase without pre-emptive subscription rights, by means of the issuance of class A and B shares of the Company, in proportion to the current number of shares of each class, at a price of €0.999 per class A share and of €0.767 per class B share. The Company’s share capital increase with pre-emptive subscription rights approved at the above mentioned October 10th, 2015 General Shareholders' Meeting will be executed after the first share capital increase mentioned above and for an effective amount currently expected to be €400,000,000, in which the Investor is expected to subscribe for its relevant portion of the shares.
The Investment Agreement is subject to certain conditions such as the standby underwriting of the share capital increase by the underwriters announced on September 24th, 2015 continuing to be in force and the signing of a substantial package of financial support in favour of the Company by a group of financial institutions.
Gonvarri is expected to have a percentage of voting rights after the share capital increases equal to 28% of all of the voting rights of the Company, thereby becoming the main shareholder of Abengoa. The new shareholder will be represented by four directors on the Board of Directors of Abengoa, which will maintain a Board of Directors of 13 members, with the new shareholder’s representatives replacing four of the current representatives of the current controlling shareholder (Inversion Corporativa, IC, S.A.) which, once the transaction is completed, will have one representative in the Board of Directors.

About Gonvarri Steel Industries
With more than 50 years of history, is an industrial group that is a leader in steel service centres, road safety and components for the renewable energy sector, present in 15 countries and with great financial strength
 

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