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CIR says can't say when debt talks with banks on Sorgenia will end
April 16, 2014 / 6:12 PM / 3 years ago

CIR says can't say when debt talks with banks on Sorgenia will end

MILAN, April 16 (Reuters) - Italian holding company CIR said on Wednesday it was not possible to say when debt restructuring talks with creditor banks over its troubled Sorgenia energy unit would end.

In a statement CIR, which owns more than 50 percent of Sorgenia, said it was assessing its own position as regards Sorgenia.

A source said earlier on Wednesday the adviser of Sorgenia would meet the banks on Thursday with a final deal over debt restructuring in sight.

Sorgenia has run up 1.9 billion euros of debt, 600 million euros of which must be cleared to keep it afloat in the short term. (Reporting by Stephen Jewkes)

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