Reuters: Bankruptcy News: Alitalia board approves 500 mln euro rescue package

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

The Best Way to Manage your Money. Start using Mint today to set a budget, track your goals and do more with your money. From our sponsors

Alitalia board approves 500 mln euro rescue package Oct 11th 2013, 18:32 MILAN | Fri Oct 11, 2013 2:32pm EDT MILAN Oct 11 (Reuters) - The board of Alitalia has unanimously approved a 500 million euro ($678 million) rescue package for the loss-making Italian airline, including a capital increase of 300 million euros and the remainder in bank financing, the group said on Friday. The company said the capital increase will be offered to existing shareholders, while the state-owned postal service has guaranteed to subscribe up to 75 million euros possibly not subscribed in the cash call. Banks Intesa Sanpaolo and Unicredit will similarly guarantee the subscription of up to 100 million euros of unsubscribed options. In addition, Intesa and Unicredit have agreed to provide a bridge to equity facility of 100 million euros to allow Alitalia to meet its immediate cash needs. ($1 = 0.7373 euros) (Reporting by Agnieszka Flak)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions