Saras SpA (SRS.MI), Italy's second biggest refiner by capacity, said Friday that local magistrates have released a unit of its Sardinian refinery which was seized last month following an accident in which three workers died.

In a statement, Saras said the release of the Mildhydrocracking 1 unit follows a court order. The unit was seized May 26 following the accident.

Saras said the seizure will impact the company's 2009 earnings before interest, taxes, depreciation and amortization, or EBITDA, by about EUR5 million.

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
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