04.08.2021

Practice Areas: Finance, Tax

Abreu advises the PRIO Group in the redefinition and renegotiation of its financings

The law firm Abreu Advogados provided legal assistance to the various companies of the PRIO Group, in the redefinition and renegotiation of its bank financing, following the acquisition of this Group by the Spanish group DISA.

The operation involved the negotiation and simultaneous conclusion of the refinancing with three leading national banking institutions, which included, namely, the simultaneous signing of several loan agreements, revolving credit facilities and the issue of commercial paper.

This operation allowed the PRIO Group to refinance its debt under advantageous conditions and ensure the necessary liquidity to implement the Group’s expansion strategy in Portugal

The multidisciplinary Abreu team consisted of partner Alexandra Courela, responsible for all tax matters support, and by partner Rodrigo Formigal and senior associate André Modesto Pinheiro, responsible for the support provided in the banking and financing aspects.

PRIO distributes and commercializes liquid fuels and electric energy for mobility, having a tank terminal, a biodiesel plant and a gas filling unit located in the Port of Aveiro.

PRIO is the largest producer of biofuels in Portugal and the third largest European producer of biodiesel from residual raw materials. To ensure the flow of these biofuels, it operates and supplies a network of more than 250 service stations from North to South of Portugal, where it offers, in addition to conventional liquid fuels, EV charging points and gas supply for vehicles (LPG Auto).

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