Avramar seals deal with Aqua Bridge

The statement betwixt the banks and Aqua Bridge has reportedly been concluded.

According to “N” sources, the last details person been settled regarding the pending terms of the Avramar sale.

In particular, the accusation “confirmed” an earlier study by “N” that the CEO of the Arab radical Aqua Bridge, Mohammad Tabish, has been successful Greece for the past twenty-four hours, holding a gathering with the banks. In the discourse of the contacts with the banks, each the last details of the statement person been reportedly finalized, such arsenic the imaginable magnitude of the indebtedness impairment oregon different obligations connected the portion of the buyer, clauses and schedules, etc., and the last signatures connected the draught statement for the transfer of Avramar were yet signed.

It is noted that this was preceded by the signing, successful mid-June, of the Sales and Purchase Agreement betwixt Aqua Bridge executives – the preferred capitalist that emerged aft the completion of the applicable tender procedures past October – and the creditor banks.

Rescue plan

As for the rescue plan, according to the sources, it allegedly includes caller superior of astir 60 cardinal euros from the investor, while the indebtedness “haircut” is estimated astatine astir 70%, including guarantees for the repayment of the remaining obligations arsenic well arsenic a concern program for the adjacent time of Avramar.

The total liabilities of the largest subordinate successful the home food farming assemblage amounted to 525.34 cardinal euros astatine the extremity of 2023 – the fiscal statements for 2024 person not been published – of which 300 cardinal euros subordinate to short-term indebtedness obligations.

However, astatine the existent stage, Avramar appears to beryllium operating smoothly astatine an operational level, maintaining a bully currency position, which allows it to screen basal operating expenses, arsenic well arsenic to proceed with repayments to its suppliers.

Reorganization successful operation
This latest improvement ensures that Avramar’s adjacent time will find it under the umbrella of the Aqua Bridge group, however, a prerequisite for this to hap is the completion of the applicable “reorganization successful operation” record and its filing with the tribunal of archetypal instance.

As sources pursuing the lawsuit emphasized to “N”, “the transfer of Avramar will proceed via judicial process to the grade that the reorganization program that will beryllium filed is approved. Any large interventions will beryllium evaluated by the judicial authorities, which will analyse and determine connected what is bully for the aboriginal of the company.”

Deadline

As “N” has already reported, the deadline for the submission of the record is October 31 – if imaginable earlier – and to this end, some the ineligible and fiscal departments of Avramar person accelerated each the indispensable procedures.

In the meantime, Mohammad Tabish, CEO of the Arab radical Aqua Bridge, and Dimitris Tountas, technical manager of Aqua Bridge, attended the manufacture league held astatine the inaugural of the Hellenic Aquaculture Producers’ Organization, a determination that carries a special symbolism, fixed that to the grade that the procedures for the transfer of Avramar are completed, they will beryllium the “key” figures successful the aboriginal of some the institution and the home aquaculture industry.