(Finance) – Following the agreement reached between the MEF, the Cassa Depositi e Prestiti (CDP) and SACE, with the decree signed by the Minister of Economy and Finance, Daniele Franco, in agreement with the Minister of Foreign Affairs and of the International Cooperation, Luigi Di Maio (SACE Decree), the reorganization of the SACE Group is defined.
This was communicated by the Ministry of Economy and Finance explaining that, in particular, the operation provides, in sequence, the transfer by SACE to CDP of the investment held in Simest equal to 76.005 per cent of the share capital, with payment in cash, and the transfer by CDP to the MEF of the investment held in SACE, equal to 100 per cent of the share capital, with payment in specially issued government bonds. The transfers take place at the prices deemed appropriate and agreed by the parties as indicated in article 1 of the decree.
Today, therefore, government bonds were issued for a total amount of € 4,251,174,320.00, adjusted downwards to take into account the minimum subscribable denomination of government bonds equal to € 1,000, including accrued interest. interest, which will be transferred to CDP as a counterpart of the transfer to the MEF of the investment held in SACE.
On March 21, the parties will proceed with the financial settlement of the transaction with the transfer of government bonds to CDP and the endorsement and exchange of share certificates to complete the transfer from SACE to CDP of the investment held in Simest and from CDP to the MEF of the investment held in SACE.
The reorganization thus determined – underlines the Mef – “allows the companies involved to strengthen their production specialization and therefore to better pursue their mission of supporting the sustainable development of the country and the growth of Italian companies”.