The Minister of Economy and Finance, Roberto Gualtieri, has signed the implementing decree that makes Sace's guarantee operational to cover 80% of the 100 million euro loan signed by Ovs with a pool of Italian banks, led by Unicredit .
The guarantee, granted as part of the guarantee Italy operations (the instrument put in place by Sace to support Italian companies affected by the Covid-19 emergency), is the first operation completed through the specific procedure envisaged by the so-called Liquidity Decree, relating to loans to large companies, with over 5.000 employees in Italy or with a turnover value of over 1,5 billion euros.
The group has strategic relevance in the country, employing over 7.600 employees in Italy with an induced workforce of almost 4.000 people, and in the area of financing it has made some commitments, in particular those to manage employment levels through union agreements for the duration of the same and not to approve or distribute dividends during 2020.