No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home DISTRESSED ASSETS

New hearing at Bergamo’s Court next September 22nd for distressed paper manufacturer Cartiere PIgna

Bebeezby Bebeez
September 1, 2016
Reading Time: 2 mins read
in DISTRESSED ASSETS, ITALY, PRIVATE EQUITY
Share on FacebookShare on Twitter

pignaThe Court of Bergamo postponed by one week to September 22nd the hearing about  the Cartiere Paolo Pigna‘s recovery plan  (see here Quotidiano Nazionale, edizione di Sondrio), after the distressed paper manufacturer had been admitted to a bankruptcy procedure last January (si veda altro articolo di BeBeez). The decision has to do with new expressions of interest for the company that have been put forward in the last few months.

Actually Cartiere Paolo Pigna had addressed Bergamo’s Court last September asking for a so called blank-bankrupcty procedure (concordato in bianco) which  allows the asking company protection from creditors. Last December the company asked Bergamo Court to be admitted to an arragement with creditors (concordato preventivo) on the basis of a new industrial plan which involved the new investor Bavaria Industries Group.

However at the end of June (see here a previous post by BeBeez) Idea Capital Funds sgr,  an Italian managment company of equity funds owned by de Agostini Group,  and Bayside Capital (part of HIG Capital Group) announced the first closing for their Idea CCR (Corporate Credit Recovery), a new private equity fund which will invest in Italian mid-sized enterprises in distressed situations aiming to help them restructure and turnaround, and consequently to help banks maximize the recovery of their original loans and Cartiere Pigna was one of the companies whose debts have been sold to the fund.

At the beginning of August the local press (see here BergamoNews) wrote that Idea Ccr fund had bougt 10 million euros fo Pigna’s debt and that expression of interest for the company had been put forward by French Hamelin and Russian Academy trade buyers.

Cartiere Pigna is today controlled by its chairman and ceo  Giorgio Jannone and had closed year 2014 with 56.2 million euros in consolidated revenues, a negative ebitda of 576k euros and a 3.3 million euros net loss, with28.8 million euros in net financial debt (source: Leanus). Mr. Jannone subscribed a 9.8 million euros capital increase in 2011 after which he raised its stake to actual 82.8% (while the remaining stake is owned by Carlo Pesenti Pigna’s heirs).

 

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

PRIVATE EQUITY

What is Pisces and can it revive the UK’s startup exit market?

July 4, 2025
Italy’s Real Estate weekly round-up. News from ARECneprix, Ream, Club Med and more
ITALY

Italy’s Real Estate weekly round-up. News from ARECneprix, Ream, Club Med and more

July 4, 2025
PRIVATE EQUITY

M&A volumes jump as US bidders snap up UK tech

July 4, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

Auction for TotalErg's Italian petrol stations network to start soon. A 700 mln euros deal

Private equity and asset management firms circle Pioneer Investments again

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart