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