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CAI SpA, Federconsorzi 2. Federico Vecchioni’s Big Binge and Coldiretti’s Magic Circle.

February 16, 2021

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Consorzi Agrari d’Italia or CAI S.p.A., aka Federconsorzi 2. The Great Binge described in the Poison Dossier finds confirmation in the chamber of commerce visas of the companies involved. (1)

Federico Vecchioni and the Coldiretti magic circle derive individual and/or family economic benefits from operations conducted on the collective assets of Italian farmers. Some names and details to follow.

Table of Contents

Federico Vecchioni and Gianluca Lelli, the 3% cue on agricultural consortiums.

The minutes of the extraordinary shareholders’ meeting 1.9.20 of Consorzi Agrari d’Italia or C.A.I. S.r.l. (CAI SpA from the next day) acknowledges the managing director and managing director:

1) autonomous and disjointed powers, to ‘develop and promote actions within agro-industrial development projects, innovation and technological development, supply chain, both upstream and downstream, defining business and corporate opportunities with all potential stakeholders.’ As well as ‘representing the company in ordinary and extraordinary meetings of investee companies, in the absence of the chairman, vice chairman and CEO.’ Also, ‘perform Merger and Acquisition( M&A) [mergers and acquisitions, ed.] and industrial relationstransactions.’

2) ‘Variable compensation equal to 1.5% (one point five percent) of the value of capital transactions put in place and for the Managing Director variable compensation equal to 1.5% (one point five percent) of the value of extraordinary finance transactions and in particular for ‘M&A’ transactions. In addition to the generous fixed fees already awarded to them by Assembly 8.7.20. (2)

A 3 percent cue on all capital transactions of the Consorzi Agrari d’Italia was therefore given to the companies:

– BT Srls (managing director of CAI SpA), sole member Gianluca Lelli, head of Coldiretti’s Economic Area, and

– ELFE Srl (managing director). Whose members are EF simple company (96%, partners and cohabitants Federico Vecchioni, Elisabetta Pasinato, Matilde Vecchioni), as well as Federico Vecchioni (2%) and Elisabetta Pasinato (2%) themselves.

Vincenzo Gesmundo, Ettore Prandini, Claudio Costamagna

Vincenzo Gesmundo and Ettore Prandini – respectively secretary-general and acting president of Coldiretti, in the company of Claudio Costamagna former president of Cassa Depositi e Prestiti CDP Equity SpA – are instead participating in the Great Binge on the treasures of Italian farmers through a Chinese box system in which they are involved directly and/or through their relatives:

– the dominant shareholder of Federconsorzi 2(aka CAI SpA) is Bonifiche Ferraresi, B.F. S.p.A. (CEO Federico Vecchioni, managing director Gianluca Lelli)

– a shareholder of B.F. S.p.A. is Arum S.p.A. with 4.952 million euros in share capital and headquarters in Turin (identical to ELFE Srl and EF Ss),

– second shareholder of Arum SpA is Progresso S.r.l. (20 percent of shares. Same location as ELFE, EF, Arum). The sole shareholder of Progresso Srl is Lu.Mi. limited company, at the same Turin office. Director of Progresso Srl as well as sole shareholder of Lu.Mi. Is Lucia Liturri, wife of Vincenzo Gesmundo,

– Arum’s other shareholder is Agricola Quadrifoglio Srl (5 percent shares), based in Brescia. Partners Ettore Prandini (49 percent), Giovanna Prandini (49 percent) and Adele Treccani,

– another 5 percent of the shares of Arum S.p.A. are in the hands of C.C. Holding S.r.l. based in Milan. Majority shareholder (90 percent) Claudio Costamagna, together with Oliver Alessandro Costamagna (10 percent).

– 2.499 percent of Arum S.p.A., finally, is held by the Vecchioni family’s ELFE Srl.

The Big Binge

The Great Binge is a euphemism, not a metaphor. When it is observed and documented how a number of people exploit their positions in agricultural unions to derive personal benefits beyond the already lavish compensation associated with such positions, through their own and/or their family members’ and relatives’ shareholdings in companies formed with the wealth of farmers-the Agricultural Consortia, in fact-and with public money.

The icing on the cake is Claudio Costamagna’s participation in the binge. Who had injected public capital into Bonifiche Ferraresi on 3/27/17 – moreover through a bond issue, not even an equity stake, for 50 million euros – in his role as president of Cassa Depositi e Prestiti, CDP Equity. (3) To then become a shareholder through Arum S.p.A., incorporated on 12.4.19.

#CleanSpades

A business committee dominates Italian agricultural policy, drains public resources, and devastates the work and savings of generations of farmers in Italy. Unclean operations are conducted under his direction in every supply chain, from olive growing to the livestock system (4,5). In a climate of intimidation, public and private corruptions that corrodes even the top echelons of public administration, politics and the press (6,7).

#Clean Spades, now.

Dario Dongo

Notes

(1) Dario Dongo. Consorzi Agrari d’Italia SpA, Federconsorzi 2? The Poison Dossier. GIFT (Great Italian Food Trade). 1.1.21, https://www.greatitalianfoodtrade.it/mercati/consorzi-agrari-d-italia-spa-federconsorzi-2-il-dossier-dei-veleni

(2) Coldiretti’s magic circle wizards masterminded the coup. The then sole shareholder of CAI Srl, SCCA (Società Consortile Consorzi Agrari per azioni), has in fact:

– on 6/26/20, resolved the transformation of C.A.I. from a S.r.l. to an S.p.A., effective postponed to 2/9/20,

– 8.7.20, defined corporate bodies and their ordinary compensation,

– on 7/27/20, acquired the interest-bearing business branches of Consorzi Agrari Emilia, Adriatico, Centro-Sud, Tirreno,

– 1.9.20, extended the powers of chief executive officer and managing director, with allocation of extraordinary compensation to them

(3) About the CDP equity bond loan to Bonifiche Ferraresi, see https://www.bfspa.it/files/00210/bfspadocumentodiregistrazione.pdf, page 73

(4) Dario Dongo. Coldiretti and Unaprol. The uncertain fate of public funds intended for Italian olive growers. GIFT (Great Italian Food Trade). 6.2.21, https://www.greatitalianfoodtrade.it/idee/coldiretti-e-unaprol-il-destino-incerto-di-fondi-pubblici-destinati-agli-olivicoltori-italiani

(5) Dario Dongo. Coldiretti, AIA and the golden calf. #CleanSpades are urgently needed. GIFT (Great Italian Food Trade). 9.2.21, https://www.greatitalianfoodtrade.it/idee/coldiretti-aia-e-il-vitello-d-oro-vanghepulite-urgono

(6) Dario Dongo. Conflict of interest AGEA – Pagliardini – Coldiretti, questions to the European Parliament. GIFT(Great Italian Food Trade). 30.1.21, https://www.greatitalianfoodtrade.it/idee/conflitto-d-interessi-agea-pagliardini-coldiretti-interrogazioni-al-parlamento-europeo

(7) Dario Dongo. Federconsorzi 2, CAI SpA, AgriRevi, Coldiretti. The jerk dinner. GIFT (Great Italian Food Trade). 31.1.21, https://www.greatitalianfoodtrade.it/idee/federconsorzi-2-cai-spa-agrirevi-coldiretti-la-cena-dei-cretini

Dario Dongo

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Dario Dongo, lawyer and journalist, PhD in international food law, founder of WIISE (FARE - GIFT - Food Times) and Égalité.