Nov. 6 (Bloomberg) -- The CAI group of investors taking over Alitalia SpA will make a cash payment of 275 million euros ($354 million) as part of its 1 billion-euro offer for the insolvent airline.

CAI will make the payment for Alitalia's main assets, according to a stock-exchange statement received late yesterday. CAI will also assume 625 million euros in debt, including financing for planes, prepaid tickets and other commitments, the statement said.

CAI has also offered 57 million euros for service unit Alitalia Servizi, 7 million euros for Alitalia Airport, 19 million euros for Alitalia Express and 17 million euros for the Volare unit, part in cash and part in debt.

The first cash payment of 100 million euros will be made at the closing of the acquisition Nov. 30. For the main Alitalia business, Alitalia Express and Volare, the balance will be paid in two equal parts within 180 days and 24 months after the closing, the statement said. For Alitalia Servizi and Alitalia Airport the balance will be paid within 180 days of the closing.

To contact the reporters on this story: Sara Gay Forden in Milan at sforden@bloomberg.net; Flavia Krause-Jackson in Rome at fjackson@bloomberg.net

Last Updated: November 6, 2008 01:41 EST