Salini Impregilo S p A : Italy's Astaldi gets go-ahead to rescue plan from creditors

Astaldi creditors gave the green light to a plan to rescue the ailing Italian construction company on Thursday in a move paving the way for a tie-up with bigger rival Salini Impregilo.

In a statement Astaldi said a majority of creditors had voted in favour of the plan, confirming what a source previously told Reuters.

A court is now expected to give its final approval to the plan in the next few months.

That will allow Salini Impregilo to buy a majority stake in Astaldi to create a national champion and help consolidate the construction sector with backing from state lender CDP.

(Reporting by Elisa Anzolin, editing by Stephen Jewkes)