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SIMEST invests 3 million euros by purchasing 17% stake in Tiberina’s Argentine business
SIMEST paid 3 million euros for a minority stake in Tiberina Group’s business in Argentina as the CDP Group subsidiary helps businesses representing Made-In-Italy excellence expand in overseas markets.
The acquisition comes less than a month after SIMEST paid 2.5 million euros for a minority share in the Italian automotive components company’s Brazilian operation.
Simest, together with CDP-owned SACE, form a single-stop hub for Italian companies seeking financing and other help in their plans to grow outside of Italy, as indicated in CDP’s 2016-2020 Business Plan. By purchasing minority stakes, Simest provides companies with the capital they need to expand international operations.
Tiberina Automotive Argentina will use the financing from the latest sale to grow in Argentina by expanding its factory in Cordoba where it performs molding and bodywork. Tiberina Group, founded in 1999, is active in the production of systems and components in the assembly-before-painting phase of auto manufacturing.
Historically Tiberina was formed from the creation of new companies and the acquisition of entities already operating in the Italian and foreign markets. Tiberina continues to grow with the support of Simest in the South American operations and Sace, which guaranteed a 10 million-euro loan to support its 2014-2017 investment plans.