(Alliance News) - Sicily by Car Spa announced Tuesday that it has finalized a medium- to long-term financing agreement for a maximum amount of EUR50 million with Intesa Sanpaolo Spa and Cassa Depositi e Prestiti with equal participation with SACE guarantee for internationalization.

"Thanks to the resources granted by the two financial institutions and SACE, Sicily by Car will be able to expand its production activities and increase investments earmarked for acquisitions of controlling stakes in companies throughout Europe, particularly in the Iberian Peninsula and the Balkans," the statement reads.

The financing is divided into two different lines of credit: a first EUR10 million line, granted today, with a term of 36 months and repayment in six semi-annual instalments in arrears, and a second EUR40 million line with a term of 66 months and repayment in nine semi-annual instalments starting in January 2026, with disbursements required to meet certain conditions.

Sicily by Car closed Tuesday in the red by 0.2 percent at EUR4.67 per share.

By Chiara Bruschi, Alliance News reporter

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