Banco Bpm has announced that it has purchased a package of VAT credits from Dolce & Gabbana for 117 million euros. The bank made use of 2R Capital as technical advisor.
"The transaction strengthens the financial position of the Dolce & Gabbana Group - reads the note - in an uncertain macroeconomic context marked by the negative effects of the global spread of Covid-19".
Banco Bpm specifies that it has been operating "for several years in the purchase without recourse of tax credits claimed by its customers from the Public Administration" and that, thanks also to this type of financial solution, the institute "supports customer companies by reducing their need to resort to bank borrowing and to burden the budget, thus helping to improve its financial profile”.
The managing director of Banco Bpm, Giuseppe Castagna, underlines that the institute's objective is "to support companies in a complex global economic context, also with solutions aimed at mitigating business risk and optimally supporting the financial profile . The operation concluded with the Dolce & Gabbana Group was carried out in full collaboration as part of a long-term partnership".
At the beginning of the afternoon, Banco Bpm shares gained 1%, to 1,442 euros.
