Tubos Reunidos acquisition deadline set for Wednesday

The deadline for submitting the first round of offers for the acquisition of Tubos Reunidos concludes this Wednesday, October 7, at 14:00. Official data indicates that at least 14 interested parties are participating in the process.

The timeline was previously extended following requests from potential buyers to allow more time for analyzing information within the data room. The initial schedule had set the data room access deadline for September 7 and the first offer deadline for September 14, but the insolvency administration granted extensions to facilitate more thoroughly prepared proposals.

The competitive process aims to secure offers for the Mixed Productive Unit and/or the companies within the group's perimeter. The administration expects proposals to cover Tubos Reunidos as a whole. Any initial proposals must include a commitment to maintain business activity for a minimum of two years.

Despite a reported loss of 88.2 million euros in the first half of the year, the company has noted an improvement in order intake, with a 41% increase between July and August compared to the same period in the previous year.