January 9, 2019 / 8:41 AM / 5 months ago

Italy's Astaldi gets green light for 75 mln euro bridge loan - source

ROME, Jan 9 (Reuters) - A court has given Italian builder Astaldi the go ahead to take out a bridge loan worth 75 million euros ($86 million) to keep it afloat, a source said on Wednesday.

The Rome-based builder, which was not immediately available for a comment on the loan, filed for court protection from creditors in September after being hit by delays to plans to sell a bridge in Turkey.

In December it asked for court permission to take out the loan from alternative lender Fortress.

The loan could be increased by a further 125 million euros if required, although the builder has not yet made a request to the court, the source said.

At 0818 GMT Astaldi shares were up 8 percent.

Italian construction group Salini Impregilo and Japan’s IHI Corporation have made non-binding bids for Astaldi.

A source said binding bids were expected by the end of January.

$1 = 0.8724 euros Reporting by Domenico Lusi, Writing by Stephen Jewkes, editing by Louise Heavens

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