Abengoa

Abengoa specializes in creation of projects in power (in particular, construction of the power transmission line and also renewable power) and also industrial building and creation of the systems of desalting, water purification and an irrigation. For 2015 Abengoa, with the headquarters in Seville, works in 70 countries of the world, the personnel of the company contain about 26 thousand human.

History

The Abengoa company was created in 1941.

According to the Washington Times edition, since 2010 Abengoa obtained about $2.7 billion credit guarantees from the U.S. Department of the Treasury within the program of the president Barack Obama for development of projects for alternative power engineering.

In November, 2015 it became known that Abengoa began a preliminary stage of insolvency proceeding after one of potential buyers withdrew the offer on purchase of a large share block of the company.

Recently Abengoa experiences serious financial difficulties: the company does not have enough own means for service of accumulated debts. The other day the Gonvarri company, division of the Spanish industrial group Gestamp, stated that it will redeem 28% of shares of Abengoa for €350 million ($372 million)^[1].

On this background of quotation of the company on the Madrid stock exchange fell off to the minimum values for bid history. After that a trading in shares of Abengoa was suspended. In general for 2015 stocks of Abengoa in a year fell in price by 57%.

If the company will not be able to find the new capital in the short term, it is expected by bankruptcy. According to the experts, Abengoa can become the largest bankrupt in the corporate history of Spain.

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