Italian construction company Astaldi (OTC:ASTLY) filed for creditor protection last week on Friday.
In the filing, the company said its targets, set in its 2018-2022 strategy plan, were no longer achievable:
the delay in the sale process of the Third Bosporus Bridge due to the political and economic/financial events that recently affected Turkey during 2018, has required the adjustment of the entire capital and financial strengthening Plan.
At the time of the filing, Astaldi identified a couple of key moves, required immediately, that include:
the leasing of its business units to two newly-incorporated