Abengoa SA (CATS:ABG) said late on Monday its board had agreed to press ahead with a debt restructuring and asset sales, as it races to avoid becoming Spain's biggest bankruptcy. The company said a viability plan presented to its board on Monday involved the sale of non-core assets, including its first generation biofuel business, as it focuses on its engineering and construction units. Abengoa said under the viability plan, presented by advisor Alvarez & Marsal, LLC, it envisaged revenue levels in the coming years would be about two third of those reached in 2014.