La Fiera di Roma she is safe. And November 3 will remain an important date in the troubled history of the capital's trade fair organisation. In fact, on Thursday afternoon, the shareholders' meeting of the controlling company Investimenti gave the green light for the recapitalization of the institution with 13 million of fresh money, thus avoiding its bankruptcy. But, and this is the twist, the City of Rome didn't show up with the result that risks staying outside the door of the Fair: of Rome yes, but no more than the Municipality.
Barring a repentance which at the moment does not seem close, the Campidoglio, up to now a 21% shareholder, will see its stake diluted as a result of the recapitalization, leaving ownership of the institution and the associated return of image to the Chamber of Commerce and the Region upon its relaunch. With an own goal from the Raggi junta and a "big shot" by president of the Region Nicola Zingaretti which is a candidate to become more and more the point of reference for the productive world of the territory. But let's retrace the steps of a complex story that has its next appointment on November 9: on that day the terms for the composition with creditors before the bankruptcy court expire. Now, with 13 million in his pocket, thesole director Pietro Piccinetti he will be able to present himself to creditors with more convincing credentials and obtain better conditions.
Investment meeting – controlled by the Chamber of Commerce with 59%, the Region with 9,8% directly to which another 9,8% must be added through Innova Lazio and the Municipality of Rome with 21% – in a long meeting it therefore decided to to move on. The Chamber of Commerce puts 10 million on the recapitalization plate, the Region pays another 3 million. The Capitol? Nothing. L'Councilor for the Budget, Andrea Mazzillo, he deserted the shareholders' meeting for the third time. At the moment, therefore, the assembly has approved a recapitalization of 13 million euros (10 from the Chamber of Commerce, 3 from the Region) which will allow the exhibition center to survive. The other 3 million that the Capitol could have paid remain wrapped up in the uncertainty of the next 120 days. This is the deadline within which the Municipality will be able to repent, after which, if she does not do so, Virginia Raggi will leave Nicola Zingaretti the primacy, not only economic but above all political, of having fully subscribed to the rescue of the Fair.
"With this decision, the Region does not shirk its responsibilities as shareholder and leaves no stone unturned for the rescue and revitalization of a fundamental reality for the economic life of Rome and of the whole regional territory such as Fiera di Roma”. Thanks to Zingaretti came from the president of the Chamber of Commerce, much more critical of the Municipality: "Thanks - commented Lorenzo Tagliavanti - unfortunately I cannot extend it also to the Mayor of Rome given that for the third consecutive time the municipal administration has chose not to take part in the shareholders' meeting even with one of his delegates. An absence that leaves little doubt on the interest of this administration towards a strategic asset for the economic development of our city”.
Piccinetti, for his part, looks ahead and prefers to avoid controversy. “We are extremely satisfied and motivated – declared the president of Investimenti in a joint note Luca Voglino and the Au of Fiera Roma Peter Piccinetti – for the capital increase, the subscription of which was declared by the majority shareholder bound by the approval of the Fiera Roma composition with creditors. We are sure that the strategic importance of the Fair for the local economy has been deeply understood. And this makes us even more motivated to carry forward our industrial plan which we are sure will be able to relaunch the structure, making it worthy of the city whose name it bears. United we win”.
The gaze now moves to the concordat and to 9 November. The stakes are high: 200 million in debt accumulated, 22.000 euros in interest to be paid every day. And the game on the Old Fair, the one on Christopher Columbus, all to play. As long as the City doesn't get in the way.
