13.11.2012
Major milestone: ALPINE signs „Standstill Agreement“ with financing partners
ALPINE CFO Enrique Sanz: „Decisive step for ALPINE'S future“
ALPINE and a pool of banks managed by Erste Bank AG and Unicredit Bank Austria AG signed a “Standstill Agreement” today. “The agreement is a decisive milestone to guarantee ALPINE’s future. The settlement with our financing partners encourages us to continue the necessary reorganization process and is a significant message to ALPINE’s staff, clients and business partners. Everyone, the banks and insurance companies, the FCC Group as the owner and ALPINE itself will accept the responsibility for the successful future of this important Austrian company and its 15,000 employees,” said Enrique Sanz, CFO of the ALPINE Group.
Over 95% of the financing banks and insurance companies – more than 30 Austrian and international institutions – signed the Agreement. The owner, FCC, is guaranteeing the reorganization process with additional financial support in the short term. ALPINE will sell assets to actively reduce the debt situation. A long-term refinancing concept will be mutually prepared with the banks during the next few months.
ALPINE’S strategic reorientation will primarily concentrate on the profitable core business and consequently the discontinuance of unprofitable projects in Central and Eastern Europe. Austria will continue to be the key market in the future. ALPINE’s other core markets include Germany, the Czech Republic and Slovakia. The entire reorganization process will be accompanied by efficiency programs.
ALPINE is an Austrian company that grew from a small Salzburg equipment rental company to one of Europe’s leading construction companies. ALPINE’s 15,300 members of staff, of which 7,500 work in Austria, generated revenue from construction services in the amount of 3.6 billion euros in 2011.
Major milestone: ALPINE signs “Standstill Agreement” with financing partners – ALPINE Bau GmbH
L'HY (e oltre) è un mondo fantastico, si divide in due categorie: i bond che sono "distressed" e quelli che devono ancora diventarlo. C'è chi vede il bicchiere mezzo pieno e chi mezzo vuoto, poi - come fa notare il buon Russiabond - è tutta una questione di soldi 
