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Prelios to start exclusive bid talks with Italy consortium

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MILAN, Oct 11 (Reuters) - Real-estate manager Prelios, which is rushing to find cash to pay its hefty debt,has agreed to start exclusive bid talks with Feidos, an Italianconsortium led by real estate entrepreneur Massimo Caputi, asource close to the board told Reuters.

Prelios has chosen Feidos over U.S. fund Fortress ,which had also expressed interest in the loss-making Italiangroup.

Prelios, which manages properties in Italy and Germany, hasbeen hit by writedowns on its property investments inrecession-hit Italy.

(Reporting By Elisa Anzolin, writing by Lisa Jucca)

((elisabetta.jucca@thomsonreuters.com)(Tel +39 0266129442)(Reuters Messaging:elisabetta.jucca.thomsonreuters@reuters.net)(Twitter:@ReutersLJucca))

Keywords: PRELIOS BOARD/FEIDOS