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Spain's Abengoa requests state aid worth $297 mln, weighs takeover bid

MADRID, March 17 (Reuters) - Spain’s troubled engineering and renewable energy firm Abengoa SA said on Wednesday its holding company Abenewco1 had requested a temporary state aid package worth 249 million euros ($297 million) in a bid to stay afloat while it is evaluating a non-binding takeover bid.

In early February, parent company Abengoa SA voluntarily started a bankruptcy process after its creditors refused to extend a deadline for negotiating a restructuring agreement.

Abengoa said Abenewco1 had received a non-binding offer from a group of investors led by Terramar Capital LLC, which aims to control 70% of the company.

Abenewco1, which holds most of its parent company’s assets and liabilities and were most of its 13,500 employees work, was not part of the insolvency proceedings.

$1 = 0.8398 euros Reporting by Jesús Aguado, editing by Andrei Khalip

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