March 19, 2020 / 11:08 PM / 9 days ago

Mexico's Alsea cuts 2020 capex to under $83 mln due to coronavirus

MEXICO CITY, March 19 (Reuters) - Mexican restaurant company Alsea said on Thursday it expects to slash its planned capex for this year to under 2 billion pesos ($83 million) due to the coronavirus outbreak, compared with the sum of 4.5-5 billion pesos it had previously earmarked.

The company also said it has “significant liquidity” to operate well into the second half of this year and can pay outstanding interest, even if its businesses in Europe remain effectively closed and those in Mexico are weaker. ($1 = 24.0672 Mexican pesos) (Reporting by Daina Beth Solomon Editing by Dave Graham)

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