Spain's Renta Corporacion says to file for insolvency

MADRID, March 19 Tue Mar 19, 2013 8:23am EDT

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MADRID, March 19 (Reuters) - Spanish property firm Renta Corporacion said on Tuesday it would file for insolvency, the latest real estate company to struggle to make debt payments as a prolonged downturn hits business and prices.

Creditors for the company - with debt of 162 million euros ($210 million) - include Banco Popular, ING Real Estate Finance, Deutsche Bank, Caixabank, SAE, Banco Caixa Geral and Sareb, the holding set up by the government to handle soured property assets, the company said in a statement. ($1 = 0.7717 euros) (Reporting By Tracy Rucinski; Editing by Fiona Ortiz)

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