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Italy: Italian banks reject Apollo’s rescue plan for Carige

 |  June 24, 2019

Italy’s banking fund FITD said on Monday it had rejected a rescue plan presented by a private equity fund for ailing lender Banca Carige.

In a statement, the fund did not name the private equity but sources had told Reuters last week that U.S. private equity fund Apollo Global Management, which already owns Carige’s insurance units, had presented its offer.

The FITD did not give a reason for the rejection on Monday but only said that it “was not in a position to accept a private equity fund’s draft plan in its current state”.

Full Content: Reuters

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