ABENGOA, IS THIS THE INDUSTRIAL REACTIVACION DE SPAIN

On the edge of the biggest insolvency in the Spanish managerial history. In that situation Abengoa is, one of the relating ones of the Spanish renewable energy to international level, and the multinational emblemática of Andalusia. The company has been forced to announce that it will present the pre competition of worthy with the objective of winning time during a maximum of four months (three enlargeable at four as prevé the law) and to avoid the one that would be never the biggest competition of creditors seen in the Spanish economy in 2015 when the PP wants to make us believe that we are leaving the crisis it seems that Abengoa if it will leave (forever). 

The decision that caused the suspension of its rate of the actions of the group for some hours, takes place after the Group Gonvarri, branch of the Corporation Gestamp, abandoned the idea of injecting 350 million Eurus through two capital amplifications. As he should have found the bills and the future of the company, that operation it transformed to the group of the family Riversides into the main shareholder, with 28%, for before the proprietors, the Benjumea. However for they counted it with which the banking supported them with 1.500 million. A part of the creditors, especially the HSBC and “Crédit Agricole”, they have refused. 

This mentions it because he gives an idea of the composition of the Spanish industry Spain it doesn't leave the Middle Ages the goods the large estates, the favors of the Kingdom, to the noblemen (or not so noble) they continue constituting the industrial economic outline of Spain they already come it is not my thing, ACS it belongs to Florentine Pérez, FCC it was of the Koplowitz until Carlos Slim entered with his millions and I avoid the crash, and this way almost all the big Spanish companies. Abengoa an enormous multinational is of a family like it has been indicated in the previous paragraph. They don't consolidate this way the big managerial corporations of Europe and the world, medium companies type are believed this way that can restrain with family character. 

The center of the creditors' attention is the corporate debt that doesn't have a specific guarantee. The first financial entities with exhibition are Santander, Caixabank and HSBC in very similar positions, according to sources of the Spanish financial sector; although the foreign banking adding the group would overcome the Spaniard and it is in fact the one that has put sticks in the wheels to reach an agreement. 

The analysis of the debt of Abengoa is complex because very diverse concepts are included that embrace the traditional bank debt, the financing of circulating to operate, placements of funds and obligations and financing of what is known as Project finance, that is to say, financing of projects of infrastructures or parks water heater lots that once are in march they begin to generate revenues that are not considered problematic debt. This nucleus of passive "problematic" it would be located between 2.000 and 3.000 million, although it is still evaluating, according to the same sources. 

The titles almost collapsed 80%, but they closed with a setback of 53,85%, until the 42 cents. After this monumental fall, one of the many of the last months, the technical committee of the Ibex-35 decided to exclude to this company of this index that includes to the companies with more capitalization. 

The company whose volume of passive overcomes the 25.000 million Eurus, grew and it was internationalized (it is present in 80 countries, from USA to China or India) with the help of getting in debt. He has more than 24.000 employees. The consultant of Gestamp, Francisco Rivera, definitive, said that the rupture is "definitive". Given the importance of the signature, he has multiplied the restlessness of the Spanish administrations. The minister of Industry, José Manuel Soria, affirmed that he hoped Gonvarri could reach an agreement with the banking and in the same line the regular of Employment, Fátima Báñez was pronounced; or the president of the employer CEOE, Juan Rosell. 

In summary there is not administration structure neither address strategic neither enough own capital is another company of smoke it is or to dear being a giant as always in Spain with the feet of mud the most curious thing is that these feet of mud have helped them to soften and for consequence to collapse the own Spanish state by means of their restructurings of administration of the energy renewable curious truth, now the Spanish administrations are concerned they have "shitted" it again and a crash of this span will sink the little economy of which Andalusia enjoyed this it is the form of balancing the state that they have the governments from Madrid, and then Spain criticizes us to the Catalan because we say that Madrid steals us… they already come it to the Catalan and the Andalusian ones and in summary to all.