Saturday, April 1

SEPI accepts a rescue of 340 million euros for Técnicas Reunidas

The State Company of Industrial Holdings (QUIET) has completed the analysis for the granting of €340 million in financing to Grupo Técnicas Reunidas, channeled through a ordinary loan amounting to 165 million euros and a participatory loan for an amount of 175 million.

In the coming days, the operation will be submitted for approval by the managing board of the Solvency Support Fund for Strategic Companies, a tool approved by the Government to help companies in the context of the pandemic, and subsequently for authorization by the Minister council.

In this way, the fund has already established the terms and conditions for the granting of this financing, a step that it defends has come preceded by “rigorous, exhaustive and guaranteeing work, and strictly following the regulations that regulate this financing instrument”, as defended in a statement.

Independent advisors have participated in the process, responsible for verifying compliance with the eligibility requirements and analyzing the sufficiency of the measures proposed in the viability plan presented by Técnicas Reunidas.

“During the processing of the file, the strategic nature of the Técnicas Reunidas Group as a leading Spanish company in the design and construction of industrial plants in the energy sector has been taken into account,” he argues.

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The company is present in more than 50 countries and has a workforce of approximately 7,000 professionals, of which more than 4,000 are based in Spain.

The Fund to Support the Solvency of Strategic Companies is a* tool endowed with up to 10,000 million euros launched by the Government in order to protect economic activity and employment* while the impact of the pandemic lasts.