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News del 08/10/2019


AGREEMENT BETWEEN MASCHIO GASPARDO AND THE CREDIT INSTITUTIONS FOR 140 MILLION EUROS

The MASCHIO GASPARDO Group, leading manufacturer of agricultural equipment, has signed the agreement, in bonis, for the debt rescheduling of  140 million  Euros  ( of which 70 million in the short-term) with 21 banking institutions.

The whole operation, in line with the 2019-2022 Business Plan, is bound  to the Group’s future plans for the foreign markets, in which the Company has already a strong market position, to the marginality increase , to the reinforcement of the economic and financial position.

The agreement, which has gone through a long and articulated process, will allow  an increase of share capital of 20 million Euros that has already been  approved by the finance companies and equity partners Friulia, Finest and Veneto Sviluppo.

MASCHIO GASPARDO, with a turnover of 118 million Euros  in 2009, thanks to important investments and acquisitions, has become one of the most important players in its field,  reaching an overall turnover of  336 million Euros  in 2018. Furthermore, in the last three years, the Company has generated important cash flows, being able to repay the loan for about EUR 100 million, including both interests and capital shares.

“This agreement definitely  strengthens  the financial and capital situation of the Company, and reaffirms the already strong commercial and industrial strength of MASCHIO GASPARDO, as stated by the recent economic results” – says Mirco Maschio, President of the Group – “I am very satisfied because the Group has stabilized its financial situation, and now, it can proceed on its way of growth and face the new challenges of the global market. This represents a success for our enterprise, for the employees, for the suppliers, for the family, but also for the banking institutions which have renewed their trust in us”.

In the context of this important agreement, the MASCHIO GASPARDO Group has cooperated with KMPG Advisory S.p.A’s team  led by associated partner Bellia and senior manager Polsini . As regards the legal aspects, with Studio Carnelutti in Milan, represented by lawyers Rittatore Vonwiller, Rossi and  Lichino. Latham & Watkins has advised the banking institutions, with the lawyers Novarese and Germinaro of White & Case, as regards the legal aspects.

Loan Agency Services Srl has operated as agent in the person of lawyer Policicchio with great professionalism.