Cristian Lay has made an offer of 39 million to buy Papresa
The CL would support the company's two industrial activities, paper and packaging and two-thirds of the workforce. The Basque Government has welcomed the operation and shown its willingness to participate. Papresa is in a voluntary competition of creditors and the deadline for submission of offers for its purchase is open.
The industrial group Cristian Lay has detailed the offer to buy Papresa , which would buy the Errenteria trash can for 39 million euros.
The offer is official and binding, and the company has communicated its proposal through a 400-page document in which the company explains that, if it stays in its hands, it plans to maintain the two industrial activities that Papresa develops and that it would maintain upto two-thirds of the workforce.
The Department of Industry of the Basque Government has already supported the offer, says it is in line with its objectives and contributes to the economic growth of the Basque Country.
In addition, the Department of Industry has expressed its willingness to participate provisionally in the Society and has reported that the technical and economic solvency of Cristian Lay has been validated.
The Papresa paper factory in Errenteria entered into a voluntary creditor competitionon April 23, and the CL Industrial Group , linked to Cristian Lay, made a binding offer to buy it.
A period of fifteen days was also opened for the submission of other offers interested in acquiring the company, which remains open.
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