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Prelios to start exclusive bid talks with Italy consortium

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 Italian consortium led by real estate entrepreneur Massimo Caputi, a source close to the board told Reuters.

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

Prelios, which manages properties in Italy and Germany, has been hit by writedowns on its property investments in recession-hit Italy.

(Reporting By Elisa Anzolin, writing by Lisa Jucca)

((elisabetta.jucca@thomsonreuters.com)(Tel +39 02 66129442)(Reuters Messaging: elisabetta.jucca.thomsonreuters@reuters.net)(Twitter: @ReutersLJucca))

Keywords: PRELIOS BOARD/FEIDOS