MILAN, March 31 Pillarstone Italy said on Friday
it had finalised the acquisition of 100 percent of Italy's
Premuda and would invest 50 million euros ($53.5
million) to support the relaunch of the troubled shipping
Pillarstone Italy is a platform set up by U.S. private
equity firm KKR to restructure ailing companies.
The shipping industry is in an eight-year downturn due to
slowing international trade.
Pillarstone also said Popolare Emilia Romagna had
joined rivals Intesa Sanpaolo, UniCredit and
Carige in transferring to the platform credits towards
Premuda. ($1 = 0.9355 euros)
(Reporting by Valentina Za)