Duro Felguera soars in the stock market after leaving the pre-contest and presenting its restructuring plan to the judge

Rally day for Duro Felguera on the stock market, after the engineering and capital goods group has announced its exit from pre-bankruptcy and has presented its restructuring plan to the judge so that the magistrate can give it approval. The Asturian company has soared by more than 20% in the Continuous Market after the start of the session.

Duro Felguera has presented its restructuring plan to the Commercial Court number 3 of Gijón (Asturias), responsible for its bankruptcy process with “very broad” support from creditors. The company had requested the pre-bankruptcy on December 11, 2024 and extended it on several occasions, as communicated on Thursday to the National Securities Market Commission (CNMV) with the markets already closed.

“Today we take a decisive step by presenting the restructuring plan to the court for approval, with very broad support from creditors,” company sources confirmed to Europa Press.

The companies presented the request for judicial approval of the restructuring plan to the Asturian justice system, formalized in public deed on October 21, 2025, once duly approved by the creditors, according to the majority certificate issued on October 27, 2025 by the restructuring expert, Lexaudit Concursal.

In accordance with the provisions of article 629.2 of the Consolidated Text of the Bankruptcy Law, ‘Class 1’ of each of the companies has the favorable vote of more than three quarters of the credits included in said class.

By submitting the approval request, the engineering and capital goods group concludes the period of negotiations with creditors (pre-bankruptcy) and begins the process of judicial approval of the restructuring plan.

With the plan approved by the different classes and already presented for judicial approval, the company has commented that it is now facing the review stage in court, with “full respect” for the court’s deadlines and with “positive perspectives” for an orderly execution of the plan. The company’s objective is to consolidate itself as a more agile and competitive company in the coming years.

Extraordinary shareholders meeting

Duro Felguera has called an extraordinary general meeting of shareholders for next November 14 (on first call), whose agenda will focus exclusively on voting on the approval or rejection of the restructuring plan in all its terms.

The board of directors of the Asturian company approved the restructuring plan last week with the objective of guaranteeing its economic stability, avoiding bankruptcy and ensuring the continuity of its operations in the future.

Within the restructuring plan, the Mexican group Prodi, which will assume control of Duro Felguera, has committed to providing new capitalizable financing aimed at providing liquidity to the Asturian company and guaranteeing its continuity and viability in the short and medium term.

The disbursements, for a total amount of ten million euros, will be made once the plan has been signed and in accordance with the group’s treasury needs, prior to its judicial approval and the planned capital reduction and increase operations.

In this context, the restructuring of Duro Felguera regarding its debt contemplates as its main measure the reduction of liabilities and contingencies through haircuts from ordinary, subordinated and litigious creditors, which in some categories could reach up to 100% of the amount owed.

Keys to restructuring

The restructuring process of Duro Felguera includes a recapitalization which contemplates a capital reduction due to losses by reducing the nominal value of all the shares that make up its share capital.

Likewise, a second capital reduction due to losses is expected through the total amortization of the shares in the hands of the current controlling shareholders, the Mexican companies Prodi and Mota-Engil México.

This capital reduction operation will be conditional on the simultaneous execution of a capital increase through credit compensation. With this measure, Prodi will maintain a percentage of control in Duro Felguera, that is, the majority of the capital and voting rights, while Mota-Engil México will exit the shareholding.

The commitment includes the contribution of new capitalizable financing aimed at guaranteeing the activity of Duro Felguera before the approval of the plan.