Lega Calcio Serie A postponed to today 28 August the deadline for tabling binding offers for its media company (see here a previous post by BeBeez). The clubs of Serie A will hold a meeting on Tuesday 8 September for appraising the bids. Advent International, CVC Capital Partners and FSI made a joint offer for a 10-15% of the media company on the ground of an enterprise value of 15 billion euros. However, a part of Serie A teams agrees with the proposal of Napoli’s chairman Aurelio De Laurentiis who would like to create a media company with an industrial partner (See here a previous post by BeBeez). The cost of the project may amount to 400 million and a bridge loan of Blackstone’s GSO Capital Partners may finance its realization. KKR, Apollo Global Management and Fortress may provide resources. The revenues of Lega Serie A amount to 2.5 billion.
Italian football team Genoa Calcio is of interest to Andrea Radrizzani and Matteo Manfredi, the founder of Family Office Gestio Capital (See here a previous post by BeBeez). An unnamed US private equity is a minority partner for such a bid together with Aser Ventures, the holding of Radrizzani that has Leeds United, an iconic English football team.
James Pallotta sold his 86.6% in Milan-listed AS Roma to Dan Friedkin for 591 million euros or 0,1165 euros per share (see here a previous post by BeBeez). Friedkin will launch a public offer for the target’s 13.4% publicly traded equity. AS Roma’s net financial debt amounts to 278.5 million.
On 21 August, Friday, expired the deadline for tabling an offer for the stake of 62.5% that London Stock Exchange (LSE) owns in MTS, the Italian platform for trading bonds (See here a previous post by BeBeez). The asset attracted the joint offer of Cassa Depositi e Prestiti, Euronext,Mediobanca, and JP Morgan. MTS also attracted a bid of Deutsche Boerse and Six on the ground of an enterprise value of 600 million euros. London Stock Exchange hired Goldman Sachs and Morgan Stanley as advisors.
The shares price of Fenix Entertainment is still above the ipo (see here a previous post by BeBeez). On 25 August, Tuesday, Fenix shares were worth 5 euros for a market capitalization of 11.9 million, above the IPO price of 4 euros with a market capitalization of 9.51 million. Riccardo Di Pasquale owns 34.7% of the business, Corrado 15.77%, Roberta Giarrusso 14.2%, Tino Silvestri 10.52%, and Matteo Di Pasquale 8.94%, while the company’s 15.878% is publicly traded.
Novacart hired Mediobanca for looking for a new investor (see here a previous post by BeBeez). Novacart has sales of 65.4 million, an ebitda of 20 million and net profits of 2.1 million with banking debts of 33.91 million and equity of 36 million. Rossana Anghileri is the company’s chairwoman
Franchi Umberto Marmi will list on Milan market by the end of October after having completed its business combination with TheSpac (see here a previous post by BeBeez). Only 27.045% of the Italian spac refused the merger. Marco Galateri di Genola e Suniglia, Vitaliano Borromeo Arese, Giovanni Lega, Luciano Di Fazio, and Gianluca Cedro launched TheSpac in 2018. Franchi Umberto Marmi’s equity value is of 290 million euros. TheSpac’s shareholders have an option to buy the shares subject to withdrawal until 25 September 2020. If at the end of the offer, there will be further withdrawals, TheSpac may place these shares with third parties.
Authentic Brands Group (ABG) and Sparc paid 325 million US Dollars for Brooks Brothers, a fashion firm that applied for Chapter 11 protection (See here a previous post by BeBeez). ABG will acquire the company’s intellectual property while Sparc will run the business. Sparc owns Lucky Brand, Nautica and Aéropostale.
Bluegem Capital Partners, a London-based private equity founded by two Italians, received a credit line of 3.8 million British Pounds for its BlueGem Secondary from fintech OakNorth bank (see here a previous post by BeBeez). The bank provided the fund with a subscription secured credit facility which is a revolving credit line for which the Limited Partners’ commitments act as collaterals. Glendower Capital is BlueGem Secondary’s main investor. The fund had attracted also resources of Strategic Partners (part of Blackstone) and BMO Asset Management.
Piaggio Aerospace, a company in extraordinary receivership procedure owned by Mubadala, a sovereign fund of the Government of Abu Dhabi, has obtained a 30 million euros loan facility from Banca Ifis in the form of advance contracts and factoring operations (see here a previous post by BeBeez). The extraordinary commissioner, Vincenzo Nicastro, said that the company sale process can be now be completed. Actually Mr. Nicastro had sent the invitation to express interest in the Piaggio Aero Industries and Piaggio Aviation business complexes last February. The invitation to express interest was originally answered by 19 subjects from all parts of the world, 11 of which were subsequently admitted to the data room. The primary goal is to find a new owner by the end of the year.
On 18 August, Tuesday, Italmobiliare exercised an option for acquiring a 60% of Officina Profumo Farmaceutica di Santa Maria Novella and invested 120 million euros (see here a previous post by BeBeez). Italmobiliare will hold 80% of the asset as it invested 40 million for a 20%. Officina has sales of 31.5 million with an ebitda of above 12 million and net cash of 19 million.
Private equity Deutsche Beteiligungs acquired Italy’s PM Plastic Materials, whose ceo is Gianluigi Rapizza (see here a previous post by BeBeez). The MoscheniFamily sold the asset. Antonio Corbani, the former Italian country manager of Abn Amro Capital, is the senior advisor to Deutsche Beteiligungs.
Pamoja Capital acquired a minority of Wilier Triestina, an Italian producer of bicycle from the GastaldelloFamily (see here a previous post by BeBeez). Milan-based Inside Partners advised the vendors. Wilder Triestina has sales of 45 million euros and an ebitda of 3.13 million.
Hotelturist, an Italian high-end touristic operator in which Cdp Equity invested, received a 25 million euros financing facility with the Garanzia Italia programme (see here a previous post by BeBeez)). Intesa Sanpaolo, Bper Banca, Banco Bpm, and Banca Mps financed Hotelturist which has sales of 72.4 million, an ebitda of minus 2.4 million and net cash of 2.7 million.
Partners Group is holding exclusive talks with Milan-listed Atlantia for acquiring a 49% of Telepass (see here a previous post by BeBeez). The asset reportedly attracted the interest of Warburg Pincus – Neuberger Berman,Bain-Advent-Fsi. Telepass has operative sales of 228 million euros with an ebitda of 125 million. Partners Group, a Switzerland-listed financial firm, has 96 billion Dollars of assets under management.
Danish European Energy A/S, a renewable energy company, received from Natixis a 94.5 million euros facility for refinancing its portfolio of wind farms and photovoltaic plants (see here a previous post by BeBeez). In March 2019, European Energy A/S sold for 80 million the wind farm Bosco Le Piane to Quercus Asset Selection Sicav Sif and in January 2020 it purchased MF Energy from MPE (Merloni Progetto Energia) and Foster Wheeler Italiana.
Astorg sold to TA Associates its controlling stake in Surfaces Technological Abrasives (part of Gruppo Surfaces) (See here a previous post by BeBeez). The target’s enterprise value amounts to 600 million euros while it generates sales of 130 million and an ebitda of above 50 million. Astorg invested acquired Gruppo Surfaces in 2017 from Xenon Private Equity and the company’s founders.
All4Labels Global Packaging Group acquired Italian competitors GPS Label and Rotomet from the GrottoFamily and Andrea Cerisara (See here a previous post by BeBeez). Daniele Grotto and Cerisara reinvested for a minority of All4Labels. The Grotto family kept the shopping bags division of Gruppo GPS.
Milan-listed Datalogic sold 85% of Solution Net Systems, a provider of services for logistic with sales of 35 million US Dollars, to Architect Equity, a California-based private equity (see here a previous post by BeBeez).In 1H20, Datalogic generated sales of 230.4 million euros (291.4 million in 1H19), an adjusted ebitda of 18.4 million (45.8 million) and a net financial debt of 15.4 million.
Red Circle Investments, the investment vehicle of Italian entrepreneur Renzo Rosso, sold its 14% ofEcorNaturaSì (see here a previous post by BeBeez). Bio Iniziative acquired 9% and Luisante 5%. EcorNaturaSì has sales of 389 million euros with an ebitda of 11.6 million. Red Circle Investments acquired 14% of the company in 2014. Rosso also sold his interest in from H-Farm which is launching a capital increase of up to 20 million through the issuance of equity and convertible bond (See here a previous post by BeBeez). The businessman sold to Riccardo Donadon, the founder and chairman of H-Farm, 11% of the business for 4 million.
On 26 August, Wednesday, Officine Maccaferri said to have attracted the interest of an undisclosed investor (see here a previous post by BeBeez). Earlier in May, the company signed a debt-restructuring agreement withAd Hoc Group (the veichle of the investors in the firm’s debt that Carlyle leads) that would take from 100% to 4% Seci’s stake.