Jan
25
Abengoa Seeks Sale of Biofuel Assets in Bid to Avert Bankruptcy
By-
Feasibility plan presented to board seeks debt restructuring
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Co. to focus on engineering and technology development
Abengoa SA, the Spanish renewable energy developer on the verge of insolvency, will seek to sell its biofuel business as part of a debt restructuring plan to avoid bankruptcy.
A plan presented Jan. 25 to the board establishes “the sale of all non-core assets including all the first generation biofuel ones,” the Seville, Spain-based company said in an e-mailed statement. “The feasibility plan also establishes a company which will have revenues in the next few years of about two thirds those of 2014,” according to the statement…
Abengoa Seeks Sale of Biofuel Assets in Bid to Avert Bankruptcy
