Italy’s private equity firm Clessidra sgr prepares to exit from Anima Holding (AM Holding) capital completely after having led the asset management holdings’ ipo last April. AM Holding is the parent company to Anima sgr, a  leading Italian independent asset management operator.
Lauro Quarantadue, an investment veichle controlled by Clessidra fund, announced yesterday that it had given mandate to Ubs to sell its remaining 7.477% stake (22.4 million shares) in Anima Holding capital through an accelarated bookbuilding  (see here Anima holding’s shareholders). This mean that the fund led by Claudio Sposito will cash in about 100 million euros from the sale as Anima holding stocks closed at 4.47 euro per share yesterday in Milan.
Anima holding was listed last April in a global offering consisting in a share sale by shareholders which was oversubscribed by 5.4x at 4,20 euro per share (see here a previous post by BeBeez). Before listing Anima Holding’s shareholders where: Lauro Quarantadue (Capital Partners II Fund) with a 37% stake, Banca Popolare di Milano owning a 35.5% stake, Banca Montepaschi with 22,7%, Credito Valtellinese with 2,8% and Banca Etruria, Finnat  and the management owning the remaining 2,2%.
Anima holding is actually the result of build up led by Clessidra fund starting in 2008 when the fund bought a stake in Montepaschi’s asset management division which had been then renamed Prima sgr. After that other asset management companies owned by Italian banks had been aggregated (Banca Popolare di Milano’s Bipiemme Gestioni sgr, Credito Valtellinese’s Aperta sgr and Lussemburgo Gestioni sa).
Including the over-allottment option the offering was relative to 180.763.160 shares representing about 60% of the company capital for a 759 million euros value.
