go-ahead from Intesa Sanpaolo to the loan guaranteed by the state

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Green light to the loan of discord for Fiat Chrysler. The board of directors of Intesa Sanpaolo has approved the largest loan guaranteed by the state to an industrial group.

In particular, the long-awaited go-ahead for financing from 6.3 billion to FCA Italy 80% guaranteed by Sace.

FCA loan: two more steps required

After the many controversies triggered by the fact that the FCA group’s registered office is set in Amsterdam and the tax office in London, by the Board of Intesa Sanpaolo, also in consideration of the fundamental role of the Italian automotive supply chain, it has given the green light to the loan. for FCA Italy guaranteed 80% by Sace.

After the approval of the loan by the board of directors of the institute led by Carlo Messina, other provisions are now required, as required by the Liquidity Decree, two stages:

  • the approval of the public guarantee by Sace (because the request for financing comes from a company with a turnover greater than or equal to 1.5 billion or with a number of employees in Italy greater than or equal to 5 thousand);
  • the go-ahead from the Ministry of Economy operation.

FCA loan: liquidity for the Italian supply chain

FCA has announced that it will use the liquidity coming from the guaranteed loan for employee remuneration, guarantee payments to suppliers and secure the realization of investments.

The loan, which will be repaid by FCA within three years, the automaker said, “is intended exclusively for Italian businesses and to support the automotive supply chain in Italy, made up of around 10,000 small and medium-sized enterprises “.

This is an operation, said John Elkann a few days ago, “designed for help the entire auto sector in Italy, it serves to guarantee liquidity in this period “.



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https://www.money.it/fca-prestito-stato

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