According to El Economista, the board of directors of Técnicas Reunidas has agreed to launch a €150 million capital increase aimed at reducing its debt, strengthening its capital and intensifying the decarbonisation of its activity with new low-carbon technologies.
Both the Lladó family, which holds 37.2% of the shares and Cobas AM, the fund manager managed by Francisco Paramés, which holds more than 5% of the capital – together, they control 43% – have expressed their irrevocable commitment to subscribe to this capital increase, the Spanish engineering company informed CNMV yesterday.
The company is thus guaranteed the injection of approximately 64.5 million euros. Likewise, Azvalor AM, holder of 6.08% of the share capital, has also informed Técnicas Reunidas of its intention to maintain its current stake after the capital increase, although it has not signed an irrevocable commitment. In the event that the management company led by Álvaro Guzmán de Lázaro backs the capital increase, the underwritten subscription would reach approximately €73.6 million, almost half of the expected total.
Linklaters team was formed by partners Iñigo Berrícano and Luis Roth, managing associate Pablo Ruiz de Assin, associate Pablo Tejerizo and junior associate Jorge Suárez.
On the other hand, Uría Menéndez advised Técnicas Reunidas, S.A. on the share capital increase of €150 million, with preferential subscription rights for shareholders, through the issuance of approximately 24,000 new shares representing 43.7% of the share capital before the capital increase. Some of the issuer’s significant shareholders undertook to subscribe to their shares in the capital increase.
Uría Menéndez’s team was formed by Alfonso Ventoso (partner, Capital Markets, Madrid); Beatriz Camilleri (senior associate, Capital Markets, Madrid); Alejandro Samaniego Jurado (junior associate, Capital Markets, Madrid); Violeta Pina Montaner (counsel, Tax, Madrid); Carmelo de Andrés Camazon (associate, Tax, Madrid).
