Celsa’s creditors are willing to continue negotiating to unblock the financial aid offered by SEPI, but they warn that there will be no agreement if the Rubiralta family intends to retain 100% of the value above the restructured debt.
The funds issued a statement yesterday at the time that the workers of the factories carried out several protest acts in different cities such as Barcelona, ??where they demonstrated, or Santander, where they protested before an office of the Deutsche Bank, one of the creditors. Also yesterday, the president of the Generalitat showed his support for Celsa through a message on Twitter: “It is more necessary than ever to maintain Celsa’s industrial activity and guarantee the continuity of jobs.” The president added that “it is time for the industry and not for the speculative economy.”
Precisely in the statement, the creditors said that “they are preeminent financial institutions, well regulated and capitalized, with a long history of investment and commitment both in the Spanish and world markets.”
The Rubiralta family negotiates against the clock with the creditor funds to reach an agreement before June 30 that allows the injection of 550 million financial aid offered by SEPI to guarantee the viability of the steel company. Although the limit is the end of the month, the European Commission must first support the agreement.
The creditors insisted that their objective is to seek a “fair” agreement that reduces Celsa’s debt and places the company in a sound financial position “so that it can prosper and grow in the coming years.”
