Word: vianini
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...million the Vatican will pay represents about half of its cash and readily marketable assets and could put a severe strain on its resources. To raise funds for the settlement, which is due by June 30, the church recently sold its controlling interest in Vianini, one of Italy's largest construction companies, for an estimated $35 million. The Vatican also has borrowed heavily from London banks and may have to sell many of its foreign financial and real estate holdings to come up with the rest of the money...
...Italian companies had become a liability. The Vatican owns some $200 million worth of stock in Italian firms. The church until recently either controlled or owned a substantial part of at least a dozen important enterprises, including cement-making Italcementi, paper-manufacturing Cartiere Burgo, pasta-making Molini Biondi and Vianini, a major engineering firm. The investments provide a handsome income to help defray the huge cost of running the papal establishment. But social unrest is growing in Italy. Anxious to align the church with the working class, the Vatican wants to escape any onus for closing inefficient plants, laying...
...million yearly are more than a dozen sizable Italian companies and several smaller ones. This month two Rome firms, Comtec and Ircom, jointly signed to build a 20-story skyscraper in Uganda's capital of Kampala. A group of three other Ro man companies, including a firm called Vianini, in which the Vatican is the largest shareholder, recently won a $40 million order from the Libyan govern ment to broaden 1,483 miles of coastal highway and erect 46 bridges...
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