Finaosta S.p.A.

Aosta Valley Regional Financing Company

Set up in 1982 by means of the Regional Law (R.L.) 16/82, then substituted by the R.L. 7/06.
The company's capital of EUR 112 million is entirely owned by the Aosta Valley Autonomous Region.
The mission of FINAOSTA S.p.A. is to be involved in the promotion and implementation of activities and actions aimed at directly and indirectly fostering the socio-economic development of the region, within the framework of a regional planning policy and in compliance with the directives of the Aosta Valley Autonomous Region. These aims are pursued primarily through actions intended to promote the creation, development, modernization, economic consolidation and mutual cooperation of public and private companies and public bodies with main operational management and areas of business inside the region.
The business can be considered as mainly run inside the region when both fixed investments and employment - and, when required, the technical and administrative directorate - are fully or mainly concentrated within regional boundaries.
FINAOSTA S.p.A. can also help companies whose operational management and areas of business are located outside the region, as well as companies with operational management and areas of business inside the region that carry out actions outside the regional area, provided that these actions can help the development of regional economic activities or the achievement of objectives that may prove beneficial for the regional economic framework.
To achieve this object, FINAOSTA S.p.A. can implement the following actions:
- acquiring shares, mainly on a temporary basis, in limited liability companies, including foreign companies that are already set up or to be set up; the aim being to implement programmes or achieve objectives of interest for the regional economic framework;
- provide financing in any form;
- provide companies with advisory services in the fields of financial and corporate structure and industrial strategy;
- carry out research, advisory, assistance and management tasks assigned by the Aosta Valley Autonomous Region;
- carry out any financial transaction (movable or immovable) considered as necessary or simply useful to achieve the company object; the aim being to implement the afore mentioned actions,  
- manage operating capital that comes from funds provided by the Aosta Valley Autonomous Region and/or by FINAOSTA S.p.A. and/or other public bodies, with a view to providing funding to parties indicated in those regional laws that have set up these same funds. The funding is regulated by specific conventions;
- implement actions by drawing on special funds referred to in Article 6 of the regional law of 16th March 2006, n° 7, commissioned by the Regional Council and other bodies, as well as act as an authorised agent of the Aosta Valley Autonomous Region;
- by means of the special funds referred to in Art. 6 of the regional law of 16th March 2006, n°7, ensure the design, construction, purchase and lease of immovable properties for industrial (production of goods and services), commercial or tourist use, to be managed or disposed. In order to achieve these aims, FINAOSTA S.p.A. can purchase and parcel out land and buildings.

Finaosta operates:
• through ordinary management: operations carried out using the company’s net assets (R.L. 7/06): focusing on risk capital, interest-bearing debt, funds for leasing operations;
• Through extraordinary management: operations carried out in response to an instruction from the Region and using funds that the Region provides (R.L. 7/06);
• Through the management of operating capital destined to specific sectors/areas:
• Crafts and Industry (R.L. 6/03);
• Transformation of agricultural products (R.L. 7/04);
• Hotels and other accommodation facilities (R.L. 19/01);
• Cableway installations (R.L. 46/85, 8/98 repealed, 8/04 currently effective);
• Trade and cooperation (R.L. 19/01);
• Farm tourism (R.L. 29/06);
• Equestrian tourism (R.L. 33/93);
• Main home and recovery of historic city centres (R.L. 76/94, 33/73 I par., 56/86 per coop);
• Agricultural Land improvement (R.L. 43/96);
• Thermal sector (R.L. 38/98)
• Funds to research and development (R.L. 84/93);
• Energy efficiency in residential sector, demonstration installations, setting-up of an Energy Observation Centre (R.L. 3/06) – wood waste recovery (1/97).