Doro Felguera announces his deal with Mexican Brody and Mota Angel

Thus lifting the ban on assistance from the Solvency Support Fund for strategic companies. Prodi and Motta Engel will contribute €90m.

The Engineering and Capital Goods Group of Asturias maintains its rescue by entering as partners in Prodi Group and Mota-Engil Mexicowhich is 49% owned by the first.

The search for an industrial partner was one of the conditions of the agreement with Solvency support fund for strategic companies, Approved in March 2021.

Saab Villqueira In its statement to CNMV, it noted that the agreement with the two companies for their equity entry “will result in a clear benefit to the company and its shareholders.”

The company headed Rosa Azza Explains that the group study programme controlled by the employer Jose Miguel Bigos It is dedicated to the design and construction of public infrastructure, public transportation, oil and gas, energy, and tourism projects. For its part, Mota-Engil México is the head of a business group focused on civil works, infrastructure, concessions, engineering, energy and industry. Its main contributor, with 51%, is the Portuguese Mota Angel.

The two partners will provide two loans of 90 million euros. It will be Brody 50 million, and Mota-Engel the remaining 40 million. He will return them by increasing the capital.

Saab Villqueira He calculates that between both new partners, their engagement will not exceed 51% after the capital increase. For this, he calculates an average listing price of 0.7661 euros per share, buying Prodi 31% after the capital increase and Mota-Eil México, up to 24%.

The company stated that the operation is designed “for the long-term financial recovery of Doro Filguera, which will mean a major boost to the community and the consolidation of a feasibility project in which workers’ contributions have been key.”

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