Business&Finance

300 million from the banks for Burgo

To improve the balance sheet of Burgo, a paper company in Vicenza belonging to the Marchi family, with turnover of 2.6 billion euro, Mediobanca (shareholder holding 22%), Intesa Sanpaolo, Unicredit and Banco Popolare, together with the advisors, Leonardo & Co and Rothschild, have found a solution whereby participatory financial investments worth 200 million euro will be issued plus 100 millions in convertible warrants.

In short, this makes for an overall cash injection of around 300 million euro, whereby these resources will serve to restore balance to the position of the company, which currently has debts of a billion euro, of which 800 are medium- to long-term. The next step will be to find a partner for a “marriage”. The name of Lecta-Cartiere del Garda, which is owned by the CVC fund, is rumoured in this respect.

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