December 19, 2017 / 5:42 PM / 10 months ago

Creval shareholders approve share issue for up to 700 mln euros

MORBEGNO, Italy, Dec 19 (Reuters) - Shareholders in Italy’s Creval approved on Tuesday a new share issue for up to 700 million euros ($827 million) which the mid-sized lender needs to clean up its balance sheet.

At Tuesday’s meeting, 95.77 percent of shareholders present voted in favour of the share issue, which is pre-underwritten by Mediobanca and Citi. (Reporting by Andrea Mandala, editing by Stephen Jewkes)

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