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UPDATE 1-Safilo mulling fund, industrial partners -sources

Thu Jul 2, 2009 11:23pm IST
 
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* Another four weeks to clinch fund deal - source

* Could combine private equity, industrial partner - source

* Industrial partner could be Marcolin - source

(Releads, adds source and analyst comments)

By Cristina Carlevaro

MILAN, July 2 (Reuters) - Italian eyewear maker Safilo SpA (SFLG.MI: Quote, Profile, Research) could bring on board private equity and industrial partners to help solve financial worries, sources said after bankers agreed to a debt payment being delayed.

Safilo said on Thursday bankers had agreed to delay to Dec. 31 payment of a financing instalment which was due on June 30.

Safilo, whose net debt reached 618 million euros ($872 million) at the end of March, is in talks to find a partner to strengthen its balance sheet.

The delayed instalment was due under agreements regarding Safilo's existing senior loan. Safilo said it had also won a waiver on financial covenants linked to the same financing arrangement.  Continued...

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