Bob
29th September 2004, 00:03
Piaggio is on track to buy Aprilia after reaching a preliminary agreement with Aprilia's major creditor banks.
Takeover guru Roberto Colaninno, who owns Piaggio met with the three main creditors, who account for 50% of the approximate 210 million Euro debt. The main creditors now have to present the plan to the other banks (about a dozen) for agreement.
Colaninno said he hoped to close the deal by the end of October.
Takeover guru Roberto Colaninno, who owns Piaggio met with the three main creditors, who account for 50% of the approximate 210 million Euro debt. The main creditors now have to present the plan to the other banks (about a dozen) for agreement.
Colaninno said he hoped to close the deal by the end of October.