Italian luxury fashion firm Etro, a portfolio company of L Catterton Europe, launched a 15 million euros capital increase that the fund subscribed (si veda altro articolo di BeBeez). The company that belongs to the eponymous family posted losses of 28.3 million. Fabrizio Cardinali is the ceo of Etro while Marco De Vincenzo acts as creative director. The company has sales of 277 million and ebitda of 9 million. See here Etro’s 2022 Financials available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Minor Italian football club Pordenone Calcio bankrupted as the Court rejectd its application for receivership (see here a previous post by BeBeez). On 27 February 2024, the court will hold a meeting for appraising the above 20 million euros debt of Pordenone Calcio that includes dues with the Italian Inland Revenue (6 million) and Italian social security (3 million). Pordenone Calcio has sales of 0.163 million, an ebitda of minus 14.5 million, equity of minus 1.3 million, and net financial debts of 1.2 million.
Arrow Global raised to little below 100% its 95% in real estate firm Sansedoni Siena (see here a previous post by BeBeez). Daniele Patruno is the ceo of Europa Investimenti a subsidiary of Arrow Global.
In 1H23, there have been 321 auctions for hotels that are underlaying of NPLs: 43 assets are based in Tuscany, 35 in Emilia-Romagna and 30 in Sicily, said the Report Aste 2022 of Centro Studi AstaSy Analytics, a subsidiary of NPLs RE_Solutions (see here a previous post by BeBeez). In 2022, market participants auctioned 521 assets (0.47% of the auctioned real estate assets). The report of Astasy said that many of these hotels are art heritage assets. The majority of Tuscany assets under auction are based in Siena area and the average auction price is below the national figure (0.86ì million euros vs 1.2 million). The most expensive Tuscany asset is a Art Nouveau hotel that Siena Court sold for 3.38 million (lowest offer) from an asking price of 4.5 million. The most expensive asset is four star Hotel NH Venezia Laguna Palace that Padua Court tried to sell for 24.3 million (asking price of 27 million). Previous press reports said that the Hotel attracted the interest of an undisclosed fund, but there are not official statements about the auction outcome. The asking price of Rome’s four stars Hotel Mondial (84 rooms) amounts to 15 -20 million, but there aren’t further communication about the auction.
