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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 - 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

Abengoa SA has been awarded contract for construction of new port terminal located in Capurro, Montevideo
Monday, 24 Aug 2015 11:57am EDT 

Abengoa SA:Says has been awarded contract for construction of new port terminal located in Capurro, Montevideo.Says contract exceeds $93 million and engineering works are expected to begin in fourth quarter of 2015.  Full Article

Abengoa SA selected to build biomass combined heat, power plant in UK
Monday, 10 Aug 2015 06:48am EDT 

Abengoa SA:Selected to build biomass combined heat, power plant in UK.Says the engineering and construction contract will exceed 600 meur.  Full Article

Abengoa SA announces capital raise of 650 mln Euros to complement its strategy of new asset sales
Monday, 3 Aug 2015 02:40am EDT 

Abengoa SA:Has unanimously voted to submit to an Extraordinary Shareholders Meeting the approval of a capital increase with pre-emptive rights of 650 mln Euros.Proceeds will be used to reduce corporate debt by 300 mln Euros, additionally to existing commitments, and to reinforce the balance sheet.Abengoa's largest shareholder, Inversion Corporativa has stated that it will participate in capital raise with new money.Launched new plan of divestitures for a total of 500 mln Euros, including 400 mln Euros plan announced on July 31 and additional divestitures of bioenergy assets.Expects to obtain all of the proceeds no later than Q1 2016.  Full Article

Abengoa U.S. unit wins court blessing to exit bankruptcy

A leading U.S. subsidiary of Abengoa SA received U.S. court approval to exit its Chapter 11 bankruptcy, according to court records filed on Wednesday, putting the Spanish renewable energy group closer to achieving a global debt-cutting plan.