Screen Service filed in Court in Brescia last March 10 a debt restructuring agreement previuosly signed with banks (Bnl, Unicredit, Intesa Sanpaolo, Banca Popolare Milano , Banco di Brescia, Banco Popolare , Monte dei Paschi di Paschi and Creval). The agreement states a debt rescheduling and 4 million euros of new cash (download here the Italian press release). The Court is expected to give its go ahead next May. Consolidated net financial debt was 39.9 million euros last January 31 (download here the press release).
Screen Service Broadcasting Technologies spa, listed at the Italian Stock Exchange, is controlled by private equity operator Opera sgr with a 30.18 pct stake. It is one of Italy’s leading producers of television broadcasting equipment and offers a complete range of equipment for the transmission and the processing of analog and digital television signals.
Agreement with banks comes after negotiations have been held for 18 months led by Screen Service Chairman, Fabrizio Redaelli, supported by its financial advisors (Studio BNC), legal advisors (Studio Alpeggiani e Associati ) and by banks’ legal advisors (Studio Pedersoli).