The SEPI rejects the rescue of Ezentis, which analyzes other alternatives for its debt

Ezentis has confirmed this Friday that the State Society for Industrial Participations (SEPI) has rejected its request for rescue of 70 million euros, for which the company is analyzing other alternatives to refinance its debt.

The firm's titles have been suspended from trading since 9:09 a.m., after 'El Confidencial' has advanced the refusal of the public entity to grant public aid.

This rejection is due, as Ezentis explains in a relevant fact to the National Securities Market Commission (CNMV), to the fact that the deadline for allegations to the file proposed by SEPI makes it "unfeasible" for it to be approved within the period established for granting aid from the Solvency Support Fund for Strategic Companies, which ends on June 30.

Subsequently, the entity has added in another notification to the market that it has received an email from SEPI in which it considers that the request "does not meet certain eligibility requirements that are necessary for the granting of funds."

The company and the unions considered this help "essential" to solve their delicate financial situation, with a negative balance of 160 million euros, and their high debt.

Ezentis had gotten its creditors to suspend some obligations until the future of the bailout was determined and a strategic plan approved.

The entity owes more than 150 million euros, with the bulk of maturities located this year. Among the creditor entities are the Arcano and Muzinich funds, as well as a group of banks formed by BBVA, Banco Pichincha, Banco Santander, Caixabank and EBN.

The firm has more than 8,000 employees, most of them in Spain. During the shareholders' meeting held last Monday, the non-executive president of Ezentis, Enrique Sánchez de León, assured that the creditors "are willing to bet on the future of the company."

Along the same lines and in the face of a possible rejection of the rescue, Sánchez de León also assured that there were other alternatives such as the contribution of new partners or those already existing in the firm, referring to José Elías, owner of Audax and La Sirena, and reference shareholder of the firm.

This has already tried to merge Ezentis with its energy services company Rocío, but backed down at the request of the National Securities Market Commission (CNMV) to present a takeover bid (OPA) for the firm.

LAST WEEK OF THE AID FUND FOR STRATEGIC COMPANIES

The SEPI faces the last week of the fund with several bailouts to be resolved on the table, including that of Abengoa, which will present allegations to the preliminary rejection of the public entity.

The fund managed by SEPI, endowed with 10,000 million euros, has approved since its formalization a total of 24 operations worth 2,534.8 million euros, 47.22% of the 5,367.5 million euros requested.

The latest rescues approved have been those of the Vicinay Marine group, for 32 million euros, and that of Celsa, which will receive 550 million euros, 280 million euros in a participating loan and 270 million euros in an ordinary one.

Likewise, the closure of 27 ineligible files has been formalized for 1,151 million euros, as reported after the last rescue, which added to the 70 million euros of Ezentis would yield an amount of 1,220 million euros.

According to public figures, there would be pending requests for 1,631.7 million euros with the extraordinary Council of Ministers on Saturday and next Monday as key dates to resolve them before the June 30 deadline.