RN Risanamento

   DOW JONES NEWSWIRES 
 

Italian real estate company Risanamento SpA (RN.MI) said late Thursday that the country's stock-market regulator, Consob, has exempted Risanamento's creditor banks from making a takeover bid on the company.

Consob was to decide if the creditor banks of Risanamento - among them Intesa Sanpaolo SpA (ISP.MI), UniCredit SpA (UCG.MI), Banco Popolare SC (BP.MI) and Banca Popolare di Milano (PMI.MI) - that are supposed to take control of the real estate developer had to launch a takeover bid on the shares they don't control already.

Risanamento, which is facing bankruptcy saddled with debts of more than EUR2.8 billion, on Wednesday reached a deal with its creditor banks as part of the restructuring plan to save the company. The banks had conditioned the plan on the exemption of a mandatory takeover bid for Risanamento.

Exchange Web site: http://www.borsaitaliana.it

-By Enza Tedesco, Dow Jones Newswires; enza.tedesco@dowjones.com