Abreu steers Grupo Marques´ debt restructuring

Abreu Advogados assisted Grupo Marques on a bank debt restructuring and in a spin-off of the group’s distribution area

 

 

Abreu Advogados guided Grupo Marques on a process that allowed the Azorean business group to deleverage around 60 million euros of syndicated bank debt.

The restructuring involved months of negotiation work with several banking entities and the investor (Finançor), in a highly complex operation, which included the reorganisation of multiple bank liabilities, requiring the payment of cross-guarantees and payment in kind leading to the execution of a restructuring agreement under an extrajudicial recovering procedure (RERE), and spin-off of the group’s distribution area, which was acquired by the investor.

The transaction, concluded in mid-July, included the participation of an extensive team from Abreu Advogados, covering several practice areas. The team was led by Tax partner Nuno Cunha Barnabé (pictured) and included Tax law associated partners Maria Inês Assis and Joana Maldonado Reis, Restructuring and Insolvencies professional partner Gonçalo Delicado, Corporate and M&A partner Manuel Santos Vítor, associated partner Cláudia Santos Malaquias, associate António Vidal, and professional partner Pedro Alves da Silva, and Financial and Banking professional partner Rodrigo Formigal.

Abreu steers Grupo Marques´ debt restructuring

Antonio Jimenez Morato

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