ITALY: Cirio Finanziaria reports increase in debt in H1
The acquisition of South African Del Monte is weighing heavily on Cirio Finanziaria , the parent group of Italian food multinational Cirio Alimentare . For H1, Cirio Finanziaria announced debts stood at 1,870bn lire (US$0.89bn), 380bn lire more than at the beginning of the year. The sum is equal to the amount Cirio Alimentare paid Del Monte stockholders for control of the fruit and vegetable company after a lengthy dispute with Del Monte management.
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