Vespa maker Piaggio refinances 250 mln euro debt

Newswire

MILAN, Dec 15 (Reuters) - Italy's Piaggio, maker of the iconic Vespa scooters, said on Thursday it has agreed with banks Mediobanca and Intesa to roll over debt worth 250 million euros ($300 million) for 7 years. Piaggio said the deal would replace part of its existing debt at better conditions than the terms established in October 2003, when the firm was bought by businessman Roberto Colaninno. It gave no details of the conditions. The company, owned by Colaninno's holding firm Immsi ...

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