Will DM IDMSA aid ABM Solid?

2012-01-23



ABM Solid entered into a letter of intent with DM IDMSA regarding cooperation between the two entities. The brokerage house and selected investors are going to invest equity in the construction company, said the company in a released communique.
The cooperation is intended to enable the company to continue operations and foster the development of ABM Solid, which has been hit by financial difficulties. DM IDMSA plans to take part in the financial restructuring of the company, which is expected to introduce rules for sustainable cooperation with ABM Solid’s financing banks and bondholders. The plans provide for the company to enter into agreements to restructure its debt; the brokerage house will participate in the drafting of these agreements. Furthermore, DM IDMSA is willing to acquire shares in the construction company. However, it will do so provided that the provisions of the agreements with the company’s creditors are acceptable to DM IDMSA in terms of restructuring form and term.

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