Abengoa SA (ABG.MC) Key Developments | Reuters.com
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Abengoa SA (ABG.MC)

ABG.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

Abengoa SA to carry out sewer and drinking water project in Peru
Wednesday, 17 Feb 2016 07:00pm EST 

Abengoa SA:To carry out sewer and drinking water project in Peru in consortium with GyM SA, with 50 percent participation.Project is worth $52 million.  Full Article

Abengoa SA sells its stake in solar thermal power plant in UAE
Wednesday, 3 Feb 2016 07:00pm EST 

Abengoa SA:Says ‍sells its share in 100 MW solar thermal power plant Shams-1 in United Arab Emirates​.  Full Article

Abengoa SA - European Commission said has opened a formal antitrust investigation into the actions of Abengoa SA, Alcogroup SA and Lantmännen ek för - Reuters
Monday, 7 Dec 2015 06:58am EST 

Abengoa SA:The European Commission said on Monday it had opened a formal antitrust investigation into the actions of Spanish company Abengoa SA ABG.MC, Belgium's Alcogroup SA and Lantmännen ek för LANT01.MANG of Sweden - RTRS.In April, EU antitrust regulators raided several bioenthanol companies and at the same time stepped up a two-year investigation into biofuel price benchmarks. In 2013, it searched the offices of BP, Shell and Statoil too - RTRS."The Commission's investigation focuses on behaviours in price benchmarks for the ethanol sector," the EU competition authority said in response to an email asking if crude oil and refined products were still being assessed - RTRS.Alcogroup said: "Alcodis and Alcogroup operate their activities in accordance with European law and therefore fully cooperate with the European Commission whilst ensuring their fundamental rights to be respected." - RTRS.Lantmännen said it "cooperates fully with the authority". Abengoa was not immediately available for comment. - RTRS.In a separate case, the Commission is also investigating several bioethanol producers on suspicion of taking part in a cartel following searches of offices. The sources said the oil majors are not involved in this case either - RTRS.Ethanol is made from biomass such as wheat, maize or sugar beet that is mainly added to gasoline and used as a biofuel for certain motor vehicles - RTRS.  Full Article

Abengoa SA - Clock ticks as Abengoa's banks seek guarantee to extend lifeline-sources - Reuters
Monday, 7 Dec 2015 05:10am EST 

Abengoa SA:Abengoa facing a cash crunch in the next week, is negotiating a multi-million euro lifeline with creditor banks which have asked the company to guarantee with new assets, sources familiar with the talks said on Monday - RTRS.The engineering and renewable energy group, which has biofuel and solar-heated power plants in the United States and operates assets in a dozen countries across four continents, is on the verge of becoming Spain's biggest-ever bankruptcy - RTRS.Having struggled with big debts for more than a year, Abengoa triggered pre-insolvency proceedings last month after a key investor backed away from a plan to inject about 350 million euros ($378 million) into the company - RTRS.It needs 100 million euros to pay salaries by the middle of this month and to keep its business running. Further out, it needs up to another 350 million euros in extra cash to stay afloat over the next four months - the maximum time allowed to renegotiate its debt under Spanish law - RTRS.One of the sources said Abengoa had committed with lenders to deliver savings of up to 40 percent and cut as many as 4,000 jobs, or about 15 percent of is workforce worldwide - RTRS.It has already halted work at several plants or construction sites in Brazil and the U.S. and started to cut jobs at its Seville headquarters, the sources said - RTRS.  Full Article

Abengoa SA may fire almost all 5,000 workers in Brazil - union - Reuters
Tuesday, 1 Dec 2015 03:24am EST 

Abengoa SA:Spanish renewable energy and engineering group Abengoa ABG.MC will fire almost all of its 5,000 workers in Brazil, a union said on Monday, as the indebted company faces severe liquidity problems after initiating insolvency proceedings - RTRS.Abengoa, which employs 24,000 worldwide, fired 500 workers in the Brazilian state of Bahia last week and has started proceedings to lay off a further 1,500 in the same state - RTRS."Only 400 will remain (in Brazil) ... to maintain the projects so that the equipment does not lose value," said Irailson Warneaux, vice president of Sintepav-BA, a Bahia union, who attended a meeting with Abengoa representatives last week - RTRS.  Full Article

Abengoa SA awarded $200 million contract in Jamaica
Monday, 23 Nov 2015 02:27am EST 

Abengoa SA:Awarded engineering and construction of largest combined-cycle plant in Jamaica.Contract for plant, which will be powered by natural gas and cooled by sea water, is worth more than $200 million.  Full Article

Abengoa renews its operations and maintenance agreement for plant in Morocco
Tuesday, 3 Nov 2015 07:00pm EST 

Abengoa SA:Renews its operations and maintenance agreement for 472 MW Ain Beni Mathar hybrid plant in Morocco.Signs five year extension to its agreement with the National Power and Drinking Water Office (ONEE).Says contract is worth about 63 million euros.  Full Article

Abengoa SA proposes 90 mln euro capital reduction then 650 mln euro capital hike
Friday, 25 Sep 2015 02:36am EDT 

Abengoa SA:Says to propose to shareholders a capital reduction of 90 million euros, without any return to shareholders, then a 650 million euro capital increase.The price of the capital increase and the number of A and B shares to be issued has yet to be determined.  Full Article

Abengoa SA to construct a power transmission line in Abu Dhabi
Thursday, 10 Sep 2015 08:00pm EDT 

Abengoa SA:Has been selected by Abu Dhabi Transmission & Despatch Company (Transco) to construct a power transmission line in Abu Dhabi, United Arab Emirates for 22 million euros.To construct a 400/220 kV power transmission line with a total length of 23 km.  Full Article

Abengoa SA secures sanitation works in Uruguay for $13 million
Monday, 31 Aug 2015 03:12am EDT 

Abengoa SA:Says that it has been awarded the realization of new sanitation works in Ciudad de la Costa, Uruguay, for the state company OSE.Says it is responsible for drinking water supply and sanitation services in the country's hinterland.  Full Article

BRIEF-Abengoa sells 3 pct stake in Yoigo for up to 35 mln euros

* Says sells 3 percent stake in Yoigo for up to 35 million euros ($39.7 million), expects to close the operation in the third quarter of 2016 Further company coverage: ($1 = 0.8820 euros) (Gdynia Newsroom)