June 26, 2014 / 4:06 PM / 3 years ago

Beni Stabili board approves capital boost plan

MILAN, June 26 (Reuters) - Italian real estate management fund Beni Stabili said on Thursday its board had approved a plan for a 150 million-euro ($204 million) capital increase and new bank loans for around 500 million euros to boost its financial structure.

The money will be used to repay in advance a loan related to a property portfolio leased to Telecom Italia and is expected to boost its recurring net profit by 30 million euros on an annualised basis, it said.

$1 = 0.7335 Euros Reporting by Agnieszka Flak, editing by Danilo Masoni

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