Seat PG receives binding proposal for tie-up with Dmail

MILAN Fri May 9, 2014 9:51am EDT

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MILAN May 9 (Reuters) - Debt-laden Italian yellow pages company Seat Pagine Gialle said on Friday it had received a binding expression of interest for a possible merger with DMail Group.

In a statement, Seat PG said the proposal from D.Holding Srl, a holding company controlled by DMail investor, is subject to conditions and will be evaluated in the near future, keeping informed the market of any major development.

Seat PG said its board will evaluate the proposal without prejudice to its debt restructuring process, adding that creditor meetings due in July were confirmed.

Shareholders in Seat PG gave the go ahead in March for a plan aimed at re-launching the company, allowing creditors to take control.

DMail, a small e-commerce and publishing company, said on Thursday it had reached an agreement to restructure its debts with banks. (Reporting by Danilo Masoni; editing by Francesca Landini)

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