Amco - Asset Management Company, one of the main operators in the Italian NPE market - Non-Performing Exposures, controlled by the MInistery of Finance, has completed the disbursement of the entire amount of new financing granted in favor of Pasta Zara for € 25 million to meet financial commitments and to extinguish part of its debt position according to the terms set out in the composition plan, with the aim of proceeding with its financial and productive relaunch (see EFA News article of 7/5/2020).

The transaction was concluded in execution of the arrangement with creditors with business continuity approved by the Court of Treviso in January 2020.

With this intervention, Amco confirms its approach based on a management of UTP credits (unlikely to pay or unlikely to pay) aimed at promoting the sustainability of the company, supporting deserving companies with the aim of continuity and industrial relaunch, acting as a partner of all stakeholders, with particular attention to safeguarding the workforce.

"With this operation, a note explains - a production excellence of our country is preserved, with the aim that it can continue to represent an example of Made in Italy in the world. Amco, through proactive credit management, addresses companies with strategies and tools aimed at the recovery and relaunch of deserving companies" .

Pasta Zara, founded in 1898, was born as a small laboratory in the province of Treviso and operates in the market for the production and export of pasta. Over the years it has experienced extraordinary growth to become the first exporter of pasta in the world in over 108 countries. The company, currently one of the main producers of pasta in Italy, strongly linked to the territory of the Veneto Region, can boast an annual production capacity of 400,000 tons of pasta. Last October, with an operation worth € 119 million, the definitive sale to Barilla of the Pasta Zara plant in Muggia (Trieste), one of the largest in the world in the pasta production sector, was completed.

As part of the transaction, AMCO was assisted by the law firm DLA Piper, while Pasta Zara was assisted by the firm Chiomenti as legal advisor and Deloitte as financial advisor.