Salini plans capital raise and bank lines for Astaldi buy
Italy’s Salini Impregilo is pushing ahead with plans to buy compatriot troubled construction rival Astaldi after getting the preliminary nod from financiers, with the acquiring company set to raise €600m among a raft of funding agreements.
Italy’s largest building company Salini said on Tuesday that it was pushing ahead with the long-considered acquisition after receiving letters of comfort from lenders that the company interprets as confirmation the creditors accept the acquisition’s corporate and financial structure in principle.
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