The dispute over the cashes closed with an agreement and a transaction for which the amount was not disclosed. Unicredit and Caius they let it be known through a joint press release that they have reached an agreement on the dispute that arose a few months ago.
On 6 August, the bank led by Jean Pierre Mustier had "registered a writ of summons with the Milan court against Caius Capital and the Caius funds, with which it requested compensation for damages of around 90 million euro as a result of the initiatives taken over the last few months by Caius Capital and by the funds on the Cashes theme".
With this agreement however, Unicredit has renounced the proceedings brought against Caius and the funds managed by him. On the other side of the fence, “although the terms of the settlement agreement are confidential, this settlement provides that Caius, without acknowledgment of liability, makes the following public statement to address the concerns raised by Caius in relation to the Cashes” on 20 July 2018, the European Banking Authority did not accept Caius' request to open an investigation for violation of EU law with respect to the regulatory treatment of the cashes transaction, Caius acknowledges the position taken by Unicredit, ie that it has always acted correctly in relation to the classification of its capital instruments on the basis of the approvals and indications provided to Unicredit itself by the competent authorities, Caius does not intend to undertake further public, legal or regulatory initiatives in relation to Unicredit or its financial instruments".
Caius will no longer undertake any public, legal or regulatory action in relation to Unicredit or its financial instruments. "Without this entailing acknowledgment of responsibility, Caius confirms that he has paid an all-inclusive amount to Unicredit“, The press release reads again.
At the same time, Unicredit announces that it has placed on the market a new portfolio of loans guaranteed by the Guarantee Fund for SMEs, for an amount of 300 million euros, at favorable conditions and guaranteed by the Guarantee Fund for SMEs, called Bond Italia ® 7.
The loan ceiling provides for a pre-amortisation and an amortization period of up to 60 months and will allow the bank to finance investments, growth and liquidity of companies (purchase of inventories, payment of suppliers, personnel expenses).
“The new Bond Italia® 7 – explains the bank – will guarantee credit to companies located in Central-Northern Italy and will complement the Southern Bond, launched last November 15th as part of the SME Initiative with the aim of encouraging investment by Micro, Small and medium enterprises in Basilicata, Calabria, Campania, Puglia, Sicily, Abruzzo, Molise and Sardinia". reads the note.
