Italy’s Maire Tecnimont reorganises
Italy’s Maire Tecnimont has agreed to a financial reorganisation worth around €500m, including a capital increase of €150m and new financing of €50m. Some €300m of the engineering and chemical firm’s debt will be rescheduled.
Some of the firms closest relationship banks including Intesa Sanpaolo, Monte dei Paschi di Siena, Santander and UniCredit have agreed to the reorganisation, while others are expected to reach a decision shortly.
Tecnimont is extending some 300m of its debt to the end of December 2017.
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