Reuters: Bankruptcy News: Insolvent Alpine proposes 20 pct payout quota -KSV

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Insolvent Alpine proposes 20 pct payout quota -KSV Jun 19th 2013, 09:43 VIENNA, June 19 | Wed Jun 19, 2013 5:43am EDT VIENNA, June 19 (Reuters) - Alpine Bau, the insolvent core Austrian operating unit of Spanish group FCC, is proposing a payout quota of 20 percent within two years, creditor agency KSV said on Wednesday. KSV said the insolvency administrator would assess over the next weeks whether the company's restructuring plan was acceptable in view of the demands of its creditors, which include Bank Austria and Erste Group. Earlier, rival Austrian builder Porr said it was in talks about acquiring some of the assets of Alpine Bau, Austria's second-biggest construction group. Strabag, the largest, said it would not try to buy any of the assets for anti-trust reasons. (Reporting by Alexandra Schwarz-Goerlich and Georgina Prodhan; Editing by Michael Shields)

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