Abengoa rules out closing branches in Latin America

Spanish firm Abengoa is facing the collapse of its stock against growing debt of $9.4bn as it considers divestment options in Europe and the world.

The stock has fallen about 80 per cent in the year while shareholders carried out a plan to reduce the leverage of the company.

However, the transnational has ruled out the closure of subsidiaries in Latin America to deal with the crisis.

Faced with Spanish press reports that the company would close its operations in the region, the company acknowledged being “in a restructuring process to preserve the company’s business” in the region.

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