Interview to Ascanio Cibrario on the Ferretti’s IPO on the Hong Kong Stock Exchange

Interview to Ascanio Cibrario on the Ferretti’s IPO on the Hong Kong Stock Exchange

Ascanio Cibrario, equity partner at Pedersoli Studio Legale, interviewed by Class CNBC in relation to the Initial Public Offer (IPO) of the Ferretti Group, a global leader in the luxury yacht and maxi yacht sector, for the listing on the Hong Kong Stock Exchange.

Poggi & Associati, Pedersoli, Giovanardi, Farneti, Fineurop Soditic and Chiomenti in the shareholding agreements of SCM Group S.p.A.

Poggi & Associati, Pedersoli, Giovanardi, Farneti, Fineurop Soditic and Chiomenti in the shareholding agreements of SCM Group S.p.A.

SCM Group S.p.A. – a world leader in technologies for processing a wide range of materials, including wood, plastic, glass, stone and metal, and composite materials – carried out a complex corporate reorganisation involving its historical shareholders with the exit of the companies owned by the shareholders Linda and Marco Gemmani. The new corporate structure of SCM Group is managed, through the holding Ageco S.r.l., by the branch of Gemmani family headed by Giovanni and Anastasia Gemmani, and the two branches of Aureli family headed by Alfredo Aureli and Adriano Aureli (Non-executive Chairman of SCM Group).

In the transaction, Poggi & Associati advised Giovanni and Anastasia Gemmani with a team coordinated by name partner Luca Poggi and composed, as to legal aspects, of Emanuele Gnugnoli (partner) and Massimo Castiglioni (senior associate), as well as, for tax aspects, Monica Zafferani (partner), alongside the Rimini-based accountant Pier Maria Albini.

Family branch of Alfredo Aureli was advised, as to legal aspects, by Pedersoli Studio Legale, with a team composed of Giulio Sandrelli, Federica Cadorin and Federica Monteleone, as well as, for tax aspects, by Mario Piantanida, of counsel at Paroli Bruno Fossa.

Family branch of Adriano Aureli was advised, as to legal aspects, by Giovanardi Studio Legale, in the persons of Marco Marinoni (partner) and Alessandro Barbuti (associate), as well as, for finance, technical and tax aspects, by Farneti & Associati with a team composed of Francesco Farneti (name partner) and Andrea Angelini (associate).

Fineurop Soditic advised Linda and Marco Gemmani as financial advisor, with a team composed of the head of M&A department Germano Palumbo (senior partner) and Marco Morfino (senior advisor); Linda and Marco Gemmani were also advised, as to legal aspects, by Chiomenti, in the persons of Giulia Battaglia and Filippo Corsini, as well as, for finance, technical and tax aspects, by Chiara Mancini with the support from Federico Fonzi, respectively name partner and of counsel at Studio Mancini.

Pedersoli with WIIT in the acquisition of 100% ERPTech

Pedersoli with WIIT in the acquisition of 100% ERPTech

WIIT S.p.A., one of the main European players in the market of cloud computing services for business, focused on providing continuous hybrid cloud and hosted private cloud services for critical applications, a company listed on the Euronext STAR Milan segment of the Euronext Milan market, organised and managed by the Italian Stock Exchange, entered into an agreement for the acquisition of 100% corporate capital of ERPTech S.p.A., a leading provider of IT outsourcing services for SAP systems, formerly member of BT Group.

The consummation of the transaction is subject to the non-exercise by the Italian government of its powers under the so-called Golden Power legislation.

Pedersoli Studio Legale advised WIIT with a team led by Marcello Magro (equity partner), including Fabrizio Grasso (counsel) and Federico Gatti (associate).

Intesa Sanpaolo, advised by Pedersoli, invested in Thought Machine and appointed Vault to implement the new digital banking platform

Intesa Sanpaolo, advised by Pedersoli, invested in Thought Machine and appointed Vault to implement the new digital banking platform

Intesa Sanpaolo, advised by Pedersoli Studio Legale, appointed Thought Machine, a core banking technology company based in the United Kingdom, as partner to implement its new digital banking platform. What makes the partnership even more relevant is the £40 million investment that Intesa Sanpaolo has decided to provide, thus participating in the company’s growth path.

Isybank, the new digital banking platform of Intesa Sanpaolo, a qualifying project of the recently presented 2022-2025 Business Plan, shall make use of Vault, the core banking engine of Thought Machine.

Pedersoli team was led by Giovanni Pedersoli (equity partner) and included Giuseppe De Cola (senior associate).

The advisors in the sale of Kedrion to Permira and in the reinvestment of Marcucci family together with FSI in the new group as a result of the merger between Kedrion and BPL

The advisors in the sale of Kedrion to Permira and in the reinvestment of Marcucci family together with FSI in the new group as a result of the merger between Kedrion and BPL

FSI, CDP Equity and the Marcucci family entered into a binding agreement for the sale of their respective interests in Kedrion to Permira funds.

As a result of this transaction, Permira and its co-investor Abu Dhabi Investment Authority shall hold a controlling interest in Kedrion, which at the same time shall acquire BPL. Upon sale of the interest currently held, FSI and the Marcucci family shall reinvest in a minority interest in Kedrion-BPL.

The merger between the two companies shall result in a group of over €1.1 billion and shall count approximately 4,000 employees all over the world. The new company shall become one of the leading five global players in a sector with a long-term growth trend and significant valuable opportunities.

Kedrion’s shareholders have been advised by Carnelutti and Pedersoli, while Permira has been assisted by Latham & Watkins, Giliberti Triscornia and Maisto e Associati.

Carnelutti team comprised Carlo Pappalettera, Filippo Grillo and Alessandro Asti (partners), Cecilia Cagnoni Luoni and Nicola Cassinelli (counsel).

The Pedersoli team was led by Alessandro Marena (equity partner) and included Andrea Faoro (partner) and Leo Belloni (associate).

Latham & Watkins acted with a cross border team led by Tom Evans (partner).

The Giliberti Triscornia team comprised Riccardo Coda (partner) and Camilla Peri (counsel).

The Maisto e Associati team comprised Marco Valdonio and Stefano Tellarini (partners).

Lazard acted as financial advisor of the selling shareholders.

Pedersoli is heading once again the Mergermarket M&A league tables for number of deals in Italy

Pedersoli is heading once again the Mergermarket M&A league tables for number of deals in Italy

Pedersoli Studio Legale is heading once again the Mergermarket M&A league tables for number of deals in Italy in 2021.

With 66 deals, a 40% growth compared to 2020, Pedersoli proved itself among leading law firms in mergers and acquisitions in Italy. Equivalent of the transactions is approximately $26 billion, significantly higher than $8.7 billion in 2020.

Carlo Re, equity partner at Pedersoli stated: “We are satisfied with this result having had the opportunity to assist many leading players in the process of consolidating and strengthening their companies, both in the domestic market as well as through cross-border transactions. The M&A market in 2021 was undoubtedly lively and characterised not only by a considerable interest of international investors in Italian excellence, but also by important growth of Italian companies in foreign markets. In this respect, the Firm’s engagements alongside its clients in cross-border transactions have increased. We believe that 2022 will be just as lively for M&A. On our side, we must boldly pursue the challenges imposed by competition and technological innovation, in a context where the pandemic emergency has not yet been overcome.”

Alessandro Marena, equity partner of the Firm added: “M&A in Italy has experienced a very positive year both in terms of number of deals and value and, based on the pipeline of new opportunities already announced, there is great optimism for 2022. Positive signals come from the fact that M&A activity involves a wide range of industries such as industrial, consumer goods, healthcare & life sciences, private equity, food & beverage and luxury, with particular reference to the made in Italy sector. These elements also confirm the attractiveness of our country for foreign investors.”

Among the main transactions carried-out by the Firm:

  • FSI and all shareholder banks in the agreement for the sale to ION of their respective interests in Cedacri, an Italian leading operator of core banking software platforms and IT services for banks and financial institutions.
  • DiaSorin, an Italian multinational company listed on the FTSE MIB index, a global leader in the field of in vitro diagnostics, in the agreement for the acquisition of Luminex, a US company that develops, manufactures and sells proprietary technologies and products for biological tests with various applications in the diagnostic and life sciences sectors.
  • Intesa Sanpaolo in the agreement for the acquisition of Mooney, an Italian proximity banking & payments group, entered into with Enel. Intesa Sanpaolo, which already owns an interest in Mooney equal to 30% through Banca 5, and Enel shall hold each an interest equal to 50% of the company.

Pedersoli and Linklaters in a 350 million euro Sustainability Linked Loan of Prometeon Tyre Group

Pedersoli and Linklaters in a 350 million euro Sustainability Linked Loan of Prometeon Tyre Group

Prometeon Tyre Group S.r.l., advised by Pedersoli Studio Legale, entered into a Sustainability Linked Loan in an overall amount of 350 million Euro.

The syndicate of banks, which granted the loan, advised by Linklaters, was led by ING Bank N.V., Milan Branch as Global Coordinator and Sustainability Coordinator, as well as ING Bank N.V., London Branch as Facility Agent and includes Agricultural Bank of China (Luxembourg) S.A., China Construction Bank (Europe) S.A., Natixis S.A, Bank of America Europe DAC, Arab Banking Corporation S.A. and Barclays Bank Ireland PLC.

The loan, consisting of a Euro 200 million term loan and a Euro 150 million Multicurrency Revolving Credit Facility, has a three-year term that may be extended for one year and it is aimed at refinancing the existing indebtedness and finding Prometeon’s general corporate purposes, including new investments.

In line with the Sustainability-Linked Financing Framework, the pricing of the loan is linked to the sustainable policies adopted by Prometeon Group, which has always been committed to these issues and active in many initiatives relating to its corporate, environmental, financial and governance responsibility policies, as part of its strategic concept of sustainable growth.

The Pedersoli team was composed of Maura Magioncalda (equity partner), Alessandra De Cantellis (partner), Enrico Morolli (associate) and Mattia Longo.

The Linklaters team was composed of Andrea Arosio (partner), Alessandra Ortelli (counsel) and Filippo Azzano (associate).

Pedersoli is actually working on its carbon neutrality initiative

Pedersoli is actually working on its carbon neutrality initiative

DLA Piper, Pedersoli and Molinari Agostinelli in the financing to DigitalPlatforms by illimity for acquisition of Selta S.p.A.

DLA Piper, Pedersoli and Molinari Agostinelli in the financing to DigitalPlatforms by illimity for acquisition of Selta S.p.A.

DLA Piper and Pedersoli respectively advised DigitalPlatforms S.p.A. and illimity Bank S.p.A. in the financing transaction aimed at, inter alia, (i) acquiring Selta S.p.A., a company operating in the field of critical network infrastructure and security, and implementing and expanding of its business activities in Italy, mainly focussed on the internet of things and cybersecurity, and (ii) refinancing a portion of the indebtedness of DigitalPlatforms against RiverRock Italian Hybrid Capital Fund.

The credit facility in an overall amount of approx. EUR 14 million made available to DigitalPlatforms S.p.A. by illimity Bank S.p.A. is partially supported by a guarantee issued by SACE pursuant to the Liquidity Decree.

The acquisition transaction and, as a result, the financing, in light of the complex issues relating to the Presidency of the Council of Ministers and the Ministry of Defence.

DLA Piper advised DigitalPlatforms S.p.A. and LaCambre SCA Sicav Raif (based in Luxembourg) with a cross-practice team coordinated by Gabriele Arcuri (partner). Giovanni Ragnoni Bosco Lucarelli (partner), supported by Gianfranco Giorgio and Mariacarmela Timpone, managed the review and negotiation finance documents. Christian Iannaccone (partner), with the support of Giorgia Grande, managed “Golden Power” aspects.

illimity Bank S.p.A. was advised by Pedersoli Studio Legale with a team composed of Maura Magioncalda (equity partner), with the support of Giuseppe Smerlo, Daniele Moccia and Mattia Longo, together with Giuseppe Occhigrossi, as in-house counsel of illimity.

RiverRock Italian Hybrid Capital Fund was assisted by Molinari Agostinelli with a team composed of Marco Leonardi (partner) and Alessandro Pallavicini.