Sepi refuses to write off debt in Tubos Reunidos insolvency, chilling investors

FinanceInternationalEl CorreoOct 22, 2026, 5:20 PM35 s readAI summary

Sepi's refusal to write off Tubos Reunidos' debt, backed by a European Commission analysis, has chilled the investors still in the Basque steelmaker's insolvency proceedings. Basque Industry minister Jauregi acknowledged the report was a "surprise" for bidders, whose offers assumed the disappearance of that 150 million euro liability. He announced a meeting with Sepi to seek an agreement and called for "flexibility". The company warned staff about November and December payroll.

In 35 seconds

Sepi refuses to reduce Tubos Reunidos' 150 million euro debt and the European Commission backs that repayment is mandatory
The Basque government admits the Brussels report was a "surprise" for investors, who bid without counting on that liability
Jauregi will ask Sepi for "flexibility" at a meeting in the coming days

Read the full story at El Correo

IASummary generated by artificial intelligence from a story by El Correo. It may contain errors: the original source prevails.

Tubos Reunidos
Sepi
concurso de acreedores
siderurgia
Comisión Europea

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Sepi refuses to write off debt in Tubos Reunidos insolvency, chilling investors

In 35 seconds

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Keep reading

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