CNMV suspends the inclusion of Ezentis in a complete restructuring | Economie

CNMV cautiously suspended the listing of Ezentis, a company that operates, deploys and maintains telecommunications network infrastructure, effective at 8:30 a.m. Friday. The suspension will be lifted when relevant information is posted About the aforementioned entity soon “, says the organizer’s statement. The company, in the event of prior bankruptcy of creditors, informed the market on Wednesday that it considers it appropriate to “negotiate with creditors and prepare, prepare, approve and consolidate a restructuring plan with creditors in a manner that guarantees the continuity of the company.” For this, he said: “It is necessary You have the necessary time to conduct the said negotiations. Yesterday, addresses closed the day down by 10.24%. The company’s capitalization rose from 157 million to 41 million in the past four years, amid doubts about its viability. But, according to clarifying text, restructuring is no longer expected in the same terms as it was when the pre-bankruptcy case was filed, in September: “For purposes of clarification, the Board of Directors reports that the notification that there are negotiations with creditors to obtain a restructuring plan has a purpose and conditions.” It differs from that of calling to reach a refinancing agreement such as the one presented on September 1, which is superseded by the one presented today.”

Ezentis, controlled by businessman Jose Elías (Audax Renovables, Atrys, La Sirena), closed September with 209 million revenues in the first nine months of the year, 25% less than in 2021, and a portfolio of 312 million euros, which is 1.9 times higher. Income for the last twelve months. From January to September, the company achieved €246.5m worth of contracts, and its directors insist it is “renewing and expanding contracts with its major clients to ensure contract volumes for future projects”. Pre-contest order arrived With a liability of 157 million, it is mainly divided between banks (BBVA, Bankia, Santander, Pichincha) and funds (Highbridge, by JP Morgan, Arcano). Thus began the four-month countdown to a discount.

Ezentis is a group with 8,000 employees engaged in the installation and maintenance of communications networks, although it also owns part of its energy business, including water, electricity and gas infrastructure. More than half of their sales are concentrated in one customer: Movistar, for which, they say, they have guaranteed contracts – normally three to five years.