(Adds confirmation of Risanamento deal in the first two
paragraphs.)
MILAN (MF-Dow Jones)--Risanamento SpA (RN.MI) said Wednesday it
reached a deal with its creditor banks as part of the restructuring
plan to save the Italian real estate developer saddled with debts
of more than EUR2.8 billion from being declared bankrupt.
In a statement, Risanamento said the board approved the
restructuring accord with the banks and its growth plan. It didn't
give any details.
Earlier Wednesday, people familiar with the matter said the deal
between Risanamento and the banks, which includes Italy's two
biggest lenders UniCredit SpA (UNCFF) and Intesa Sanpaolo SpA
(ISNPY), includes a capital increase of EUR150 million and a
convertible loan worth EUR350 million.
Risanamento had the deadline for submission of its restructuring
plan postponed to Sept. 9 by a Milan court, people familiar with
the matter said Tuesday.
Wednesday, Risanamento also said it has asked Italian securities
regulator Consob to exempt the creditor banks from launching a
takeover offer on the shares of the real estate developer they
don't already own, as it is a condition set by the lenders.
According to a person who asked not to be named Tuesday, Consob
could announce a decision as early as Thursday.
Company Web site: www.risanamentospa.it
-By Liam Moloney, Dow Jones Newswires; +39-06-6976-6924;
liam.moloney@dowjones.com
(Rosario Murgida, MF-Dow Jones, contributed to this report.)