Celsa launches a new large-scale financial reorganization

The company's board of directors approved an €800 million transaction consisting of two parts

The board of directors of steel producer Celsa has approved a large-scale financial restructuring plan for the company worth €800 million, according to Diari ARA.

Under the plan, shareholders will contribute €200 million to the share capital, and an additional €600 million will be provided in the form of a subordinated loan.

The announced move is aimed at stabilizing the company’s financial position and opening up new opportunities for growth.

An extraordinary shareholders’ meeting to approve the new scheme has been convened for December 4.

The refinancing will include recourse to debt capital markets. The adjustment of the industrial plan completes the financial restructuring process that began in September 2023 following the change of control of the company. The financial restructuring was made possible by the reduction of debt through the sale of Celsa’s assets in Northern Europe and the United Kingdom.

Celsa expects a more favorable environment for the steel sector in 2026 due to increased demand from the construction sector and the implementation of protective measures and tariffs announced by the European Commission.

As a reminder, last spring Celsa announced that it had closed a deal to sell 100% of its subsidiaries in the UK and Northern Europe to the Czech investment group Sev.en Global Investments. The sale of the assets was announced in November 2024, and the deal was ratified on April 11, 2025. The proceeds were used entirely to reduce the group’s debt.