Italy's Prelios approves debt restructuring, capital increase
MILAN, March 27
MILAN, March 27 (Reuters) - Italian real estate management company Prelios said on Wednesday it approved a 561 million euro ($717 million) debt restructuring plan, as well as a 185 million euros capital increase.
The heavily indebted company manages properties in Italy and Germany and has been hit hard by writedowns on real estate investments in its recession-hit home market.
Prelios said its net loss for 2012 was 241.7 million euros, compared to a loss of 289.6 million euros in 2011, as a result of real estate writedowns and restructuring costs.
Prelios also approved a new 2012-2016 business plan.
Prelios was spun off from Pirelli in 2010. ($1 = 0.7824 euros) (Reporting by Jennifer Clark, editing by Antonella Ciancio)
- Malaysian PM says lost airliner was diverted deliberately |
- Malaysia PM says lost plane's movements indicate a deliberate act
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data