on ABO Wind AG (ETR:DE000576)
ABO Energy Signs Agreement for Restructuring Efforts
ABO Energy has achieved a significant milestone in its restructuring by signing a standstill agreement with creditors. This allows the company time to devise a restructuring plan amid challenging financial circumstances, including a projected €170 million loss for 2025 due to tough market conditions.
The firm has initiated a transformation and efficiency program to restore profitability. Management plans a cost structure overhaul, which may involve personnel reductions. Additionally, Hübner Management, led by Britta Hübner, has been engaged to guide the restructuring process as CROs.
Bondholders of the 2024/2029 bond are invited to waive certain bond terms to facilitate ongoing projects. A digital information event will be held for bondholders to discuss restructuring plans.
R. P.
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