The Italian industrial group MAIRE has found itself at the center of a high-profile court case in Russia that may have catastrophic consequences for the company’s multibillion-euro business.
The Russian division of EuroChem has filed a lawsuit against MAIRE’s subsidiary Tecnimont S.p.A. and its Russian branch. The total amount of claims is about €2 billion, which is comparable to the entire group’s market capitalization.
The scale of the threat is reflected in the group’s financial indicators, which raise serious concerns: its market capitalization is €2.1 billion, free cash flow is €342.5 million, and total debt is €1.2 billion. Recognition…
Read the full article at RT.COM
