Bank bailout for footwear firm
13/07/2009
The parent company of Portugal’s largest footwear group, Investvar, is to give a series of banks equity in the company instead of repaying estimated debts of €41 million, according to local media.
Banks involved include BES, Millennium BCP and Santander Totta.
Investvar makes shoes for the domestic and export markets under the name Aerosoles.
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