BC Partners will invest in Italian packaging and special paper producer Fedrigoni and have an even stake as Bain Capital while the eponymous family and the management will keep a minority (see here a previous post by BeBeez). The buyers acquired the company on the ground of an enterprise value in the region of 3 billion and financed the transaction with a bridge loan worth 1.18 billion euros that Goldman Sachs, BPER, Intesa Sanpaolo, Morgan Stanley, Nomura, Banco Santander, and Unicredit provided. The loan will be then refinanced by a bond issue. Fedrigoni attracted the interest of Partners Group, Onex and Brookfield. Bain Capital had acquired 90% of the business in December 2017 on the ground of an enterprise value of 650 million.
Gruppo Florence, an Italian luxury fashion producer of which VAM Investments, Fondo Italiano d’Investimento and Italmobiliare, received a financing facility of 225 million euros from Unicredit, Banco BPM, Intesa Sanpaolo, Cdp, Bper Banca, Credit Agricole Italia, and BNL (see here a previous post by BeBeez). The company will invest the proceeds in refinancing its liabilities.
Banca Sistema acquired tax credits for 5 million euros from Farvima Medicinali, an Italian pharmaceutical company that belonfs to the De Falco Family (see here a previous post by BeBeez). The company has sales of 678 million and a net debt of 51 million.
Italian media company Freeda (AG Digitial Media) issued a five-year minibond of 1 million euros that Unicredit subscribed while Fondo di Garanzia per le PMI – MCC provided a warranty (see here a previous post by BeBeez). The company will invest the raised proceeds in the development of Freeda Platform. Gianluigi Casole and Andrea Scotti Calderini founded Freeda in 2016.
Italian real estate developer Leggiero, a company that belongs to Salvatore Leggiero, restructured its debt and sold Roma Trevi, the company that owns iconic Rome-based building Palazzo De Angelis (sSee here a previous post by BeBeez). An undisclosed investor acquired the asset. Leggiero will invest the proceeds in repaying the creditors.
Banco BPM finalized the sale of Argo, a portfolio of UTPs and NPLs worth 700 million euros (90% corporate loans; 70% secured and 30% unsecured) (see here a previous post by BeBeez). The bank sold the portfolio to the securitization vehicle Tevere SPV which issued asset-backed senior notes senior (maturity in 2041 and 2% coupon). Banco BPM purchased the senior notes, while Elliott International and its subsidiary The Liverpool Limited Partnership, Gardant and Gardant Investor purchased the mezzanine and junior notes. Elliott owns a controlling stake of Gruppo Gardant
Gruppo Banca Finint acquired Finint Revalue, a credit asset management (see here a previous post by BeBeez). Finint Revalue has a turnover of 10.5 million euros and an ebitda of 1.5 million and has assets under management for 3.6 billion (3.1 billion NPLs and 500 million UTPs and past dues).
MyCredit, an investor in secured NPLs and UTPs that ceo Mirko Tramontano founded, launched a 3 million euros capital increase (see here a previous post by BeBeez). Dario Bettinelli is the company’s co-ceo while Andrea Cavaliere is a director.