Pro-Gest extends negotiated settlement procedure for six months

Pro-Gest has announced the six-month extension of the Composizione Negoziata della Crisi (CNC) procedure, which concerns only the parent company, Pro-Gest.

In the coming months, the company will continue working towards the finalization of debt restructuring agreements. Giampaolo Provaggi, who was appointed as expert advisor when the CNC procedure began in January, will remain in charge of overseeing the negotiation process between the involved parties. The talks are reportedly well advanced and expected to be concluded within the extended timeframe.

Despite the current market slowdown, Pro-Gest is ensuring operational continuity at all of its sites. This strategy allows the Group to function within a protected legal framework, move forward with the asset disposal initiatives outlined in its restructuring plan, and maintain access to credit facilities.

In recent days, Pro-Gest finalized the sale of its stake in Scart Imballaggi Srl to Tri-Wall Italia Packaging Systems Srl. Additionally, the company has appointed Lincoln International Srl as advisor for the sale of the Mantova paper mill. Pro-Gest is one of Italy’s leading paper manufacturing groups.