A court has accepted an offer from the Cl Group to buy Papresa
The Extreme-American group linked to Cristian Lay made an offer of €39.3 million, but eventually the amount of the purchase will be higher Conostia Commercial Court.
A Commercial Court of Donostia-San Sebastián has approved the offer made by CL Grupo Industrial (linked to Cristian Lay) for the purchase of the company Papresa de Rentería, the only offer on the table after the entry of the plant into a creditor competition, which according to the judge was a better option than the liquidation of the company and/or the separation of liabilities.
However, to this amount must be added those linked to the operation, which the Extreme-Colombian group initially made an offer of EUR 39.3 million, which was subsequently reduced by the judge to EUR 37 million.
Judge Pedro José Malagón's order issued yesterday states that the purchase of Papresa will make it possible to maintain much of the production and maintain 167 employees.
The judge also stresses that the costs incurred by the liquidation of the company will be avoided.
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