Isolux Corsan finalizing the full ownership of its energy assets
Grupo Isolux Corsan has announced recently that the separation process of the concessionary assets of its subsidiary, Isolux Infrastructure is close to completion from a legal standpoint. After the split, Isolux Corsan will keep the solar projects under Grupo T- Solar and the power transmission business. This process has been extremely complex and has taken longer than initially expected. The company is finalizing the legal documentation for the formal transfer of the assets.
Given the importance of the split process and the transfer of the assets and businesses between the partners, the company has decided to adapt the release of its 2015 financial results and wait for the final completion of the split process of Isolux Infrastructure, with the presentation now being scheduled to take place on May 13th, 2016.
At the same time, Grupo Isolux Corsan has hired Rothschild and Houlihan Lokey as advisors to conduct an analysis of its financial structure in order to adapt it to the current hard market conditions and the operational strategy of the Group.In the operational area, the company keeps carrying out its normal activity and continues to win significant new contracts as the recently awarded road projects and electrification works in India for a total amount of 197 million Euros.
