Italy's Piedmont, Merrill Lynch settle dispute over 2 derivatives

MILAN, June 25 Tue Jun 25, 2013 5:20am EDT

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MILAN, June 25 (Reuters) - Italian region Piedmont and Merrill Lynch said on Tuesday they had settled a dispute over two derivative contracts stipulated in 2006 to cover bond issues by the region.

"The parties... have reached a completely satisfactory agreement which will avoid any long and costly legal proceedings," the parties said in a statement.

No details were given on the contracts.

(Reporting by Stephen Jewkes)