July 26, 2019 / 8:30 AM / 4 months ago

Bankrupt wind turbine maker Senvion in talks to buy time for rescue deal - sources

FRANKFURT, July 26 (Reuters) - Bankrupt German wind turbine manufacturer Senvion is in talks to buy time to allow it strike a rescue deal as negotiations with potential buyers of the company continue, people close to the matter said.

The company is in talks with creditors to extend a 100 million euros ($111.33 million) insolvency loan so it can avoid having to agree to sell at any price, they added.

An original end-June deadline for final bids was dropped and a later envisaged end-July deadline is also being postponed, one of the people said.

Senvion in April filed for preliminary self-administration proceedings after the Hamburg-based company, which has more than a billion euros of debt, struggled following delays and penalties related to big projects.

$1 = 0.8982 euros Reporting by Arno Schuetze and Alexander Hübner Editing by Tassilo Hummel Additional reporting by Andres Gonzalez

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