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THE largest renewable energy company in Spain is on the brink of becoming the largest company in the country to ever file for bankruptcy.
Sevilla-based energy giant Abengoa has initiated insolvency proceedings after failing to close a deal with a major new investor.
In November, Gonvarri pulled out of a €350 million investment plan with the company, sending Abengoa’s stocks plunging by more than 50%.
The firm has just four months to find a buyer or it will be declared bankrupt.
