Se confirma acuerdo de reorganización de El País

The Superintendence of Companies confirmed the business reorganization agreement of El País SA with its creditors.

The order that confirmed the approval of the agreement was issued and became firm in the hearing held this Thursday, through the Delegation for Insolvency Processes, in Bogotá.

The approved payment plan contemplates a reduction of 58% of total liabilities, since 100% of labor claims and 100% of obligations are canceled in favor of entities that are covered by a mortgage guarantee with legal effects. furnishings. The remaining 42% of the liability, after a grace period of three (3) years, will be gradually amortized with the agreed interest, within the term and conditions stipulated in the agreement.

In order to achieve a significant reduction in liabilities, El País SA finalized the sale of two buildings, not necessary for its operation, to the Antonio José Camacho University Institution, which will build its university campus there.

“An impeccable process was carried out, from the legal point of view, against which we had no substantive objections or oppositions from the creditors. Quite the contrary, in the end we obtained, by a qualified majority, the necessary votes for the approval of the reorganization agreement. An innovative economic model was included in it that allows El País to pay its debts and continue its transformation process”, explained the representative of El País SA, Álvaro Pío Raffo Palau.

In her turn, the director and general manager of El País, María Elvira Domínguez Lloreda, who also acted as promoter of the agreement, said: “It is very satisfying for El País and the region to have reached this agreement that allows us to embark on a new stage, facing the current challenges of the media and its transformation”.

Likewise, the Director and General Manager of El País specified that, after this agreement, the company will continue with greater dynamism, placing itself at the forefront in terms of generating informative and news content, on the different platforms and developing a model of sustainable operation and profitable.

With this consolidation plan, El País seeks to continue being the most important and influential media outlet in southwestern Colombia, as it has been for the last 72 years, with national influence, and the one with the largest audiences in the region’s digital ecosystem.

“We maintain our firm intention so that this information company and its media outlets continue to be regional benchmarks in the defense of democratic values ​​and respect for institutions,” concluded María Elvira Domínguez Lloreda.