Piaggio on track for Aprilia banks deal -source

Newswire

MILAN, Sept 28 (Reuters) - Italy's Piaggio, the maker of Vespa scooters, is on track to buy debt-laden motorcycle maker Aprilia after a preliminary agreement with Aprilia's major creditor banks, a source close to the situation said on Tuesday. In August, loss-making Aprilia agreed to Piaggio's full takeover bid which combined a cash injection and debt restructuring. It aimed to create an Italian motorcycle giant with 1.5 billion euros ($1.85 billion) in sales. But rival motorcycle maker ...

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