Consumables

Inapa files for insolvency

Thursday 25. July 2024 - Aware of the immediate impacts the insolvency filling of Inapa Deutschland will have on Inapa IPG, the Board of Directors of Inapa IPG met and analyzed its financial situation, concluding that Inapa IPG is consequently and imminently insolvent, and therefore decided also on presenting Inapa IPG to insolvency under Portuguese law.

Under the terms and for the purposes of the provisions of article 17 of Regulation (EU) no. 596/2014 of the European Parliament and of the Council, Inapa – Investimentos, Participações e Gestão, S.A. (“Inapa IPG”) informs the market that due to a short-term cash shortage of its subsidiary Inapa Deutschland, GmbH (“Inapa Deutschland”), in the amount of 12 million euros, for which no financing solution was found within the period established in accordance with German law, despite all the timely efforts made by Inapa’s management with creditors and shareholders, in particular with its largest shareholder, which holds around 45% of the share capital, Parpública – Participações Públicas (SGPS), S.A. , Inapa Deutschland will be filling for insolvency on July 22nd 2024.
Aware of the immediate impacts the insolvency filling of Inapa Deutschland will have on Inapa IPG, the Board of Directors of Inapa IPG met and analyzed its financial situation, concluding that Inapa IPG is consequently and imminently insolvent, and therefore decided also on presenting Inapa IPG to insolvency under Portuguese law, which will be formalized in the coming days.