Banca Italease posted a net loss of €1.1
billion in 2008, according to the latest figures released by the
company.
billion in 2008, according to the latest figures released by the
company.
The troubled Italian lessor, which is facing a
buy-out by its main shareholder Banco Popolare, attributed the
losses to heavy write-downs on loans related mainly to the real
estate sector.
buy-out by its main shareholder Banco Popolare, attributed the
losses to heavy write-downs on loans related mainly to the real
estate sector.
Net interest income at Italease fell to €263 million last year,
from €301 million in 2007, a statement from the company showed.
Banco Popolare, which already owns 31 percent of Italease, said
it would pay around €179 million to buy-out the lessor, and take on
billions of euros of bad loans.
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Italease’s board believe that Banco Popolare’s buy-out offer is
the “most concrete and immediate solution” to keep the company
operating.
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