MILAN (MF-Dow Jones)--Risanamento SpA (RN.MI) has hammered out
an agreement with its creditor banks that aims to save the Italian
real estate developer from being declared bankrupt, people familiar
with the matter said Wednesday.
The deal between Risanamento and the banks, which includes
Italy's two biggest lenders UniCredit SpA (UCG.MI) and Intesa
Sanpaolo SpA (ISP.MI), includes a capital increase of EUR150
million and a convertible loan worth EUR350 million, the people
said.
The meeting between the various parties is taking place at a law
firm in Milan.
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.
Company Web site: www.risanamentospa.it
-By Rosario Murgida, MF-Dow Jones, and Liam Moloney, Dow Jones
Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
