Los fondos de Celsa pulsan el botón de salida
El grupo siderúrgico catalán, propiedad de un grupo de fondos, pone en marcha un plan de desinversión que contempla, sin plazos, la venta del 100% o una colocación en Bolsa. Leer
Catalan steel group Celsa is initiating a divestment plan, which could involve selling 100% of the company or listing it on the stock exchange. The divestment process began on Tuesday, with no immediate timeline, according to Rafael Villaseca, the non-executive president of Celsa. The company's strategic review was promoted by its funds' owners to enhance the value of their investment in the firm.
Strategic Value Partners (SVP) and Attestor, American and British funds respectively, hold around 75% of the capital, while Golden Tree and Cross Ocean jointly own the remaining 23%. These funds, with a short-term profile, are specialized in rescuing and restructuring companies and have presumably fulfilled their role in Celsa. Villaseca has not provided a tentative valuation of the company after its restructuring.
In spring, market sources speculated a figure of around 3 billion euros. Celsa currently lacks a banking advisor for this process, but has started reaching out to sector entities. The company has informed the government of its intentions, but the Spanish funds failed to secure a 20% stake in Celsa when CriteriaCaixa initially showed interest.
The steel company emerged from losses in the first quarter of the year, posting an 18 million euro profit and earning 51 million euros between January and June, with an EBITDA of 288 million and sales of 1.786 billion euros.
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