The highest regulator of companies in Colombia announced on Wednesday that it subjected the Venezuelan fertilizer manufacturer Monómeros to the highest level of supervision, amid difficulties in its financing sources, decreased income and cash flow, among others.
The Superintendence of Companies specified that the decision is not about a takeover nor does it enable the organization to co-manage Monómeros Colombo-Venezolanos, based in the Colombian city of Barranquilla.
“The decision is adopted for preventive purposes, in order to preserve the company as a productive unit and source of employment, given the financial situation that presents opportunities for improvement in terms of its financing sources, decrease in income, cash flow, among others. others,” the organization said in a statement.
The decision empowers the Superintendency of Companies to promote the presentation of improvement plans and programs; authorize statutory reforms, capitalizations, granting of guarantees that fall on the assets of the company and operations outside the ordinary course of business, he added.
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