GRUPO GICSA, S.A.B. DE C.V.
GRUPO GICSA, S.A.B. DE C.V.: Grupo GICSA Initiates Process to Explore Strategic Alternatives
MEXICO CITY, MEXICO / ACCESSWIRE / June 22, 2021 / Grupo GICSA, S.A.B. de C.V. (BMV:GICSA) announced today that the Company is initiating a process to develop, analyze and evaluate comprehensive strategic alternatives to address its capital structure, including our amount of indebtedness, liquidity and upcoming interest payments, create long-term value, and position GICSA for financial revitalization, after the extreme challenges affecting us as a result of the COVID-19 pandemic. To assist our Board of Directors and management team in analyzing and evaluating these alternatives and develop constructive strategic solutions that may enable us to best serve the interests of all of its stakeholders, we have engaged Lazard, as financial advisor and Bufete Robles Miaja, SC and Cleary Gottlieb Steen & Hamilton as legal advisors. We expect to engage with our financial creditors, as soon as practicable in order to collaborate on solutions that support our long-term financial viability and future growth. There can be no assurance that the review will result in any alternative or transaction, or any assurance as to its outcome or timing. Actions may include amendments to our indebtedness, restructuring of assets, issuance of equity or equity equivalents, and other venues to manage our liabilities. We hope to finalize a consensual transaction with our creditors in the coming months and anticipate working collaboratively with them toward a long-term solution. We will keep our investors informed of any material developments as necessary or appropriate. Forward-Looking Statements About GICSA Investor Relations Contact Yinneth Lugo +52 (55) 5148 04 00 SOURCE: GRUPO GICSA, S.A.B. DE C.V.
06/22/2021 EQS Newswire / EQS Group AG |