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1 billion euros in 771 successful operations; CDP Group celebrates internationalization hub
SIMEST turns 25 in a milestone birthday that testifies to the strategic role of the company that gives support to Italy’s businesses’ international expansion. The success of Simest has increased, as shown by analysis conducted by Ernst & Young on the more than 700 companies who over the years have turned to it for help in making direct investments abroad.
“The saving component for Italian businesses during these 10 horrible years for the 'economy is exporting. Going abroad enabled the companies to bulk up,” said the Cassa Depositi e Prestiti Chief Executive Officer Fabio Gallia, who spoke at the event. “In its five-year Industrial Plan, CDP is mobilizing 160 billion euros to help businesses grow through international growth. We also decided to strengthen Sace’s capital by transferring our share of Simest. The integration of Simest in Sace is not just of a corporate nature, but an integration of people and culture. It simplifies the life of enterprises and positively impacts economic growth.”
In its 25 years, Simest has managed 771 equity investments in foreign subsidiaries of Italian companies, for a value of over 1 billion euros. It has paid particular attention to small and medium-sized enterprises. The average amount of investment was approximately 1.3 million euros and half have not exceeded 500 thousand euros.
CDP Group at the Milan Stock Exchange spoke about the importance of Simest joining forces with Sace to create a single reference point for companies wishing to grow outside of Italy, as reflected in the 2016-2020 Business Plan.
In addition to Gallia, attending the event were the chairmen of Sace and Simest, Beniamino Quintieri and Salvatore Rebecchini respectively. They both stressed the important of their respective companies for Italian enterprises and bringing Made in Italy to the world.