Infinexa Restructuring, a company specializing in the restructuring of companies in difficulty, has put up for sale a portfolio of assets worth over 65 million euros, belonging to Hidroconstructia S.A, the company announced on Wednesday.

The sale of non-essential assets to the reorganization plan aimed at reducing the company’s operating costs and allowing the repayment of amounts to creditors was approved at the most recent meeting of Hidroconstructia’s creditors. The assets put up for sale include real estate, equipment and a number of Hidroconstructia’s holdings in other companies. All these assets will be sold through auction procedures organized by the receiver and promoted in accordance with the law.

Hidroconstructia S.A, Romania’s largest hydropower contractor, filed for insolvency on January 19, 2022, on its own initiative, having debts of over 500 million RON. The consortium formed by Infinexa Restructuring and Musat & Asociatii Restructuring Insolvency SPRL was appointed as insolvency administrator. The company is currently in the observation period, before a reorganization plan is proposed.

AGERPRES