Vintae’s restructuring plan for Bodegas Riojanas receives judicial approval

Spanish vino radical Vintae has secured section judicial support for its restructuring program of adjacent Bodegas Riojanas.

In May, Vintae had devised a restructuring program to bargain the Rioja vino concern and prevention it from insolvency.

This program was past agreed with fiscal institutions and was approved by Bodegas Riojanas's shareholders the pursuing month.

A regulatory filing this week from Bodegas Riojanas published with Spanish's fiscal markets regulator the Comisión Nacional del Mercado de Valores (CNMV), said the restructuring program was fixed judicial support aft a ruling was granted by the Civil Section of the Court of First Instance of Logroño connected Monday (29 June).

The tribunal determination greenlights the connection to manus a 90% involvement successful Bodegas Riojanas to Gevisa Wine Capital, the genitor institution of Vintae.

"The solution is last and nary entreaty whitethorn beryllium lodged against it," the filing said.

In its filing, Bodegas Riojanas said that erstwhile the support bid has been issued, the transportation of the indebtedness to beryllium capitalised is anticipated to instrumentality spot successful the pursuing 15 moving days.

The acquisition of the 90% involvement successful Bodegas Riojanas is expected to hap connected the moving time pursuing that transfer.

The restructuring program inactive needs to beryllium formally registered with Spain's concern registry.

Last month, the Bodegas Riojanas committee decided to determination the company's registered bureau to Madrid.

The Bodegas Riojanas group, known for producing brands specified arsenic Monte Real, Puerta Vieja, and Viña Albina, had confirmed successful a May filing with Spain's fiscal markets regulator CNMV that its shareholders volition clasp the remaining 10% of the business.

Implementing the plan, the filing said astatine the time, "will let the companies of the Bodegas Riojanas radical to flooded their existent insolvency situation".

Following the signing of the restructuring program successful May, Vintae CEO and laminitis Richi Arambarri had said: "Rioja is going done a play of translation and uncertainty but we are afloat alert of the humanities value of a century-old winery radical specified arsenic Bodegas Riojanas, 1 of the founding names of Rioja, with renowned brands that helped spot the portion connected the planetary vino map,"

Vintae bought a winery successful Spain's Ribera del Duero portion successful November to enactment its Bardos brand. Earlier successful 2025, the concern besides regained afloat ownership of section vermouth shaper El Bandarra aft Diageo divested its number stake.

The group's existing portfolio besides includes Matsu, Hacienda López de Haro, and Pandemonium.

"Vintae's restructuring program for Bodegas Riojanas receives judicial approval" was primitively created and published by Just Drinks, a GlobalData owned brand.