Coffee pot maker Bialetti gets standstill deal on credit
MILAN, April 28 (Reuters) - Italian coffee machine maker Bialetti Industrie (BIA.MI: Quote, Profile, Research) has reached agreement with more than 90 percent of its creditors to keep credit lines open for another year as it assembles a business plan by June 30, 2009.
In a statement on Tuesday, the company said it will also get at least 8 million euros from its controlling shareholder Bialetti Industrie Srl through a capital increase, before the deadline for the standstill agreement on April 30, 2010.
Further details of the capital increase are yet to be decided.
Bialetti, whose trademark mustachioed man grace its iconic Italian stove-top coffee pots, debuted on the Milan bourse nearly two years ago in July, 2007.
It was priced at 2.50 euros a share. Bialetti stock closed at 0.288 euros per share on Tuesday. (Reporting by Jo Winterbottom; Editing by Andrew Macdonald)
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