Brief: Ternienergia Board Approves Update Of 2018-2022 Relaunch And Recovery Plan

algoWatt SpA

27/06/2019 14:22

June 27 (Reuters) - Ternienergia SpA  TRNI.MI :
    * BOARD APPROVES UPDATE OF 2018-2022 RELAUNCH AND RECOVERY
PLAN
AND RELATED FINANCIAL MANEUVER
    * GROUP'S FINANCIAL INDEBTEDNESS WILL BE REDUCED BY DEC 31
2020
FROM AROUND EUR 142 MILLION TO APPROXIMATELY EUR 33.5 MILLION
    * UPDATE OF 2018-2022 PLAN CONFIRMS ASSET DISPOSAL MEASURES
AND
INCORPORATION OF SOFTECO INTO CO TO COMPLETE TURNAROUND PROCESS
    * INCORPORATION OF SOFTECO INTO TERNIENERGIA, 100% OWNED BY
LATTER, TO BE COMPLETED WITHIN DECEMBER 31, 2019
    * NEGOTIATIONS FOR DEFINITION OF CONTENTS OF PLAN ARE STILL
ONGOING WITH CREDITORS AND BONDHOLDERS
    * POSTPONES APPROVAL OF FINANCIAL STATEMENTS AT DECEMBER 31,
2018
TO LATER DATE, IN ANY CASE WITHIN AUG. 31, 2019

Source text for Eikon:  ID:nBIA5jh4Lv 
Further company coverage:  TRNI.MI 

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