Hong Kong-listed Chinese construction equipment maker Zoomlion Heavy Industry Science & Technology Co Ltd and Italian-Chinese private equity firm Mandarin Capital will invest together 75 million euros for a 75% stake in the capital of Ladurner Ambiente spa, an Italian company active in the renewable energy sector.
Zoonlion and mandarin signed a Memorandum of Understanding last June 1st (download here the MoU), saying that Zoomlion will acquire a 57% stake paying 57 million euros. With this deal the Chinese construction group will enter the renewable energy sector starting with a strong platform which it aims to develop in a bigger global group.
Established in 1990 and based in Bolzano, in Northern italy, Ladurner Ambiente is a leading provider and operator of comprehensive solution on environment and renewable energy in Europe and operates over 30 environmental projects in Italy and other countries in the world, with its scope of operation covers urban solid waste treatment, sewage and sludge treatment, renewable energy, soil restoration and environmental consultation service.
Ladurner Ambiente is now controlled by the Ladurner family with a 67.4% stake (through Ladurners Finance spa and ladurner Group) and is partecipated with a 13.52% stake by La Finanziaria Trentina (chaired by Lino Benassi, a former ceo of Banca Commerciale Italiana, before it became Intesa Sanpaolo) and by Igi Investimenti IV fund (13.52%) , managed by Igi sgr.
After the deal the old shareholders will retain a 23% stake together, Corriere della Sera, wrote yesterday, with ceo Andrea Silvestri owning a 2% of the company’s capital.
This is the second deal signed by Mandarin Capital and Zoomlion together on an Italian target company, after they bought Cifa, a leading concrete equipment manufacturer, in 2008.