Evergrande assures that it will present a restructuring plan in six months

The Chinese real estate developer will seek ways to optimize its financial structure and overcome the collapse of its debt.

Evergrande Group He has held a telephone conference with his creditors this Wednesday in which he has indicated that he plans to present his plan for restructuring within six months. This is stated in a statement sent by the Chinese promoter to the Hong Kong Stock Exchange.

In the conversation, Evergrande has assured that it has “reiterated” its position that it will evaluate the group’s business conditions with the aim of formulating a restructuring plan that protect “the rights” of all stakeholders.

In this sense, the promoter has urged its auditor to carry out all the preliminary work, while continuing to “listen carefully to the opinions and suggestions of the creditors”.

In any case, the Chinese promoter has warned that both the company’s investors and other types of investors must have “caution” when dealing with company values.

The Chinese real estate conglomerate, which accumulates liabilities of more than 300,000 million dollars (265,586 million euros), recognized in early December that there are no guarantees that you will have the necessary funds to meet its financial obligations.

The Chinese Great Wall withdraws its project for the reindustrialization of the Nissan plant in Barcelona

The ‘no’ of the Chinese company opens a new scenario and the reindustrialization table has called an emergency meeting for this Monday.

Exterior of the Nissan factory in the Zona Franca of Barcelona

The Chinese company Great Wall Motors (GWM) has definitively withdrawn from the project for the reindustrialization of the land of the Nissan plant in the Barcelona Free Zone.

An emergency reindustrialization table has been called for this Monday with the aim of launching the different alternatives that were on the table, according to Europa Press.

The Chinese company ‘no’, which was the priority project, comes two weeks after the Government and the Generalitat presented an “improved counter offer” to GWM in a letter signed by the Minister of Industry, Commerce and Tourism, Reyes Maroto, and the Minister of Business and Labor of the Generalitat, Roger Torrent.

The new proposal presented to GWM contemplated more public aid than initially planned and a reduction in the rental of the space in the Zona Franca where the Barcelona plant is located.

This new proposal addressed to the Chinese company came after an audit by the same company that questioned the viability of the plant and demanded an increase in aid to carry out the project.

political implication

The Chinese company’s ‘no’ has also come two weeks after a thousand Nissan workers demonstrated before the Barcelona Free Zone Consortium (CZFB), as part of a production stoppage, to “demand administrations the necessary involvement at a political level” to be able to move forward with the reindustrialization project with GWM and urgently activate the different alternatives.

On December 1, the Nissan reindustrialization table, in its last meeting, activated the electromobility ‘hub’ project while waiting for GWM, after the counteroffera “improved” transferred by the Government and the Generalitat to the Chinese company.

In a statement this Monday, the Nissan works council has assured that they continue to work “on the different alternative plans and that in anticipation of this possibility it was already activated at the previous table meeting,” according to EP.

“During this week we have different meetings scheduled, prior to the official meeting of the reindustrialization commission on the 17th, with the aim of advancing in the new scenario,” the workers explained.