Creditor banks, led by Santander, believe that Ferrovial and others, can offer an immediate solution by becoming a shareholder of Abengoa, according to local press.
If this were to happen, Ferrovial would effectively be the substitute for Gonvarri Corporación Financiera, which recently refused to inject €350m into Abengoa and sent the construction firm into insolvency talks ahead of a potential filing for bankruptcy.
So far, banks have rejected a plan to inject €450m into Abengoa. The creditor banks are suggesting other solutions such as selling Abengoa’s subsidiary Yieldco. There are also recommendations to divide Abengoa’s debt for businesses and subsidiaries to allow each unit to find its own solution.
Earlier this week, the minister of employment and social surety, Fátima Báñez, suggested finding an industrial partner for Abengoa. "“If all parties have constructive dialogue with company managers, banks and government can find a solution that also passes through the search for an industrial partner to give stability to their business model and keep jobs," Báñez said.