Oaktree Capital Management is studying the Giochi Preziosi dossier, after the group once again had to stop the listing project in Piazza Affari (see here a previous article by BeBeez), MF Milano Finanza writes, adding that at the same time managers from Giochi Preziosi and Famosa Toys, the Spanish company acquired by Giochi Preziosi last year (see here a previous article by BeBeez) are considering a management buyout funded by another private equity firm.
The Preziosi group closed year 2019 consolidated financial statements with revenues growing to 546.8 million, an ebitda of 79.3 million, a net profit of 28.1 million and a net financial debt of 235 million.
The capital of Giochi Preziosi is pledged to Unicredit, Intesa Sanpaolo and BancoBpm, following the 250 million loan obtained in 2019 (see here a previous article by BeBeez). So these banks will have the final say in the equity restructuring process.
Last February Enrico Preziosi transferred 11.7% of the capital of the Giochi Preziosi Group to the newco New Deal srl, in which Centurion Global Sicav also invested (also subscribed by the Vatican among others) for an 18.5% stake paid 13 million euros, thus equal to 2.1% of the group, which led to an overall valuation of the group at 619 million euro (see here a previous article by BeBeez).
Oaktree in Italy is already quite active. In recent days it has acquired 82% of Castello sgr (see here a previous article by BeBeez). Last April the fund supported with 100 million euros the acquisition of the Roman film production companies Stand By Me and Picomedia by the newborn production company Asacha Media Group, founded by Marc Antoine d’Halluin, ex CEO of Zodiak Media, by Gaspard de Chavagnac, former head of Zodiak Media France, and by Marina Williams, ex coo of Endemol Shine Group international (see here a previous article by BeBeez).
At the end of 2019, the US fund had entered the capital of MBE Worldwide, the international owner of the Mail Boxes Etc (MBE) brand, through a capital increase of over 100 million euros. Oaktree is expected to reach just under 50% of the capital (see here a previous article by BeBeez). Also in 2019, the US fund bought 80% of CEBAT, a company specialized in plant engineering, interconnection, maintenance and development of electricity distribution lines, primary and secondary conversion cabins and public and electrical lighting systems (see here a previous article by BeBeez) and 40% of the Genoese company Costa Edutainment, active in the management of entertainment parks and scientific education (see here a previous article by BeBeez). In 2018, however, Oaktree invested in fashion (with Magital-Cruciani and Caraggi) and in viticulture (Caprai farm). While at the end of 2015 he had bought Banca Lecchese (see here a previous article by BeBeez), then renamed Banca Progetto, and in 2007 he had bought Conbipel, which at the end of March 2020 asked for the composition with creditors blank (see here a previous article by BeBeez).