ANNOUNCEMENT 04 Jan 2022

In January 2022, the Italian Eximbank Cassa Depositi e Prestiti granted a loan to VICENZI Group to support the company's development. The loan was backed by a SACE guarantee. 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SACE, press release, 04 January 2022: Gruppo VICENZI, finanziamento da 35 milioni di euro per lo sviluppo sostenibile dell’azienda veneta
https://www.sace.it/media/comunicati-e-news/dettaglio-comunicato/gruppo-vicenzi-finanziamento-da-35-milioni-di-euro-per-lo-sviluppo-sostenibile-dell-azienda-veneta

Inception date: 04 Jan 2022 | Removal date: open ended

State loan

On 4 January 2022, the Italian Eximbank Cassa Depositi e Prestiti announced providing a EUR 35 (USD 28) million loan to VICENZI Group. The loan will support the company's development plan and the sustainability of its production processes. 

The Vicenzi Group is a conglomerate of three brands: Matilde Vicenzi, Grisbì, Mr. Day. These brands produce confectionery products such as cookies, cakes, pastries, etc.

Filippo Ceffoli, General Manager of the Vicenzi Group, stated: « We are particularly pleased that a pool of primary financial operators wanted to support and accompany us also in our national growth plans and on international markets. We want to continue the action of continuous modernization to confirm our role as primary player in the industrial pastry sector, as well as to implement all those initiatives that allow us to be increasingly attentive to the territory in which we operate and close to people ".

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.

 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 04 Jan 2022 | Removal date: open ended

Loan guarantee

On 4 January 2022, the Italian Eximbank SACE announced providing a EUR 35 (USD 39) million loan guarantee for a loan issued by Cassa Depositi e Prestiti. The loan and guarantee will support Vicenzi Group in the development plan and the sustainability of its production processes. 

The Vicenzi Group is a conglomerate of three brands: Matilde Vicenzi, Grisbì, Mr. Day. These brands produce confectionery products such as cookies, cakes, pastries, etc.

Filippo Ceffoli, General Manager of the Vicenzi Group, stated: « We are particularly pleased that a pool of primary financial operators wanted to support and accompany us also in our national growth plans and on international markets. We want to continue the action of continuous modernization to confirm our role as primary player in the industrial pastry sector, as well as to implement all those initiatives that allow us to be increasingly attentive to the territory in which we operate and close to people ".

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.

 
N/A
 
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