Failure of Spanish renewable group proves embarrassing for US investment bank,which launched share sale to raise funds for it earlier this yearA Spanish renewable energy group has collapsed into insolvency protection, it said on Wednesday, and just months after US investment bank Citi led a €100m (£70m) share sale to raise funds for the group.
Abengoa shares dropped 70% in minutes after the company said it was entering insolvency protection after a deal for a €350m capital injection fell through. Related: US investment bank Citi under fire over Spanish share sale Continue reading...
Source: theguardian.com