ANNOUNCEMENT 31 Aug 2017
On 31 August 2017, the Italian governmental agency CPD group and SACE announced providing respectively a loan and guarantee to support Salini Impregilo.
NUMBER OF INTERVENTIONS
SACE, press release of 31 August 2017, CDP Group: a 300-million-dollar loan for the first phase of the Meydan One Mall in Dubai realized by Salini Impregilo: https://www.sace.it/en/media/press-releases/press-release/cdp-group-a-300-million-dollar-loan-for-the-first-phase-of-the-meydan-one-mall-in-dubai-realized-by-salini-impregilo
The loan approved by the Italian governmental agency CPD group has a total value of USD 300 million. Additionally, the Italian Eximbank SACE will guarantee the loan issued by CDP as well as loans issued by private financial institutions. The approval of the loan and guarantee was announced on 31 August 2017 in a press release.
The loan and guarantee support Salini Impregilo's contracts for the completion of the first phase of a mall in Dubai, UAE.
In this context, SACE stated in a press release: "With this transaction, the CDP Group is involved in its first real estate project in the United Arab Emirates, confirming its support to the international growth of major Italian groups which are active in large projects worldwide."
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.