PSC Group, an Italian industrial company in receivership, attracted a binding offer of Nextalia Credit Opportunities (NCO), an investor in distressed credit and corporate that raised more than 330 million euros (see here a previous post by BeBeez). PSC is the owner of Italtel, Alpitel and Atisa and has outstanding bonds worth 66 million, 93 million mortgages, 55 million short term debt. The company has a turnover of 389 million, an ebitda of 48.3 million, orders of 1.26 billion, and gross financial debts of 180 million. Francesco Canzonieri is the ceo of Nextalia.
Milan-listed Tessellis, a tlc firm born out of the merger of Linkem Retail and Tiscali, will acquire a controlling stake of troubled Milan-listed Go Internet (see here a previous post by BeBeez). Tessellis belongs to 5G OpNet (fka Linkem), from which it will receive a 2.9 million euros commercial credit. Tesselis will subscribe a capital increase of Go Internet for up to 3.35 million ahead of launching a delisting offer. Gianni & Origoni assisted Tessellis while Valli, Mancuso & Associati and EnVent Italia advised Go Internet which has sales of 5.1 million, an ebitda of 0.6 million, an ebit of minus 1.6 million, lossed of 1.9 million, a net financial debt of 7.6 million, and equity of 2.3 million. Dubai’s Negma Group is one of the lender of Go Internet. OpNet owns 59.26% of Tessellis of 2.02% of Go Internet and has sales of above 186.7 million, an ebitda of more 31.1 million and a net financial debt of 306.2 million.
Italian stock market authority Consob authorized the prospect for the relaunch of troubled Milan-listed industrial company Fidia (see here a previous post by BeBeez). In October 2022, Negma Group converted in equity the company’s debt. Fidia will generate a 1 million euros ebitda (below the 2.1 million euros target) and losses of 0.574 million. The relaunch plan requires 8 million fresh resources for Fidia.
The distressed factoring is of increasing interest to sector players, said Il Factoring come Strumento per il Rilancio delle Imprese in Crisi, a report of Assifact and Deloitte (see here a previous post by BeBeez). Such a market is potentially worth 38 billion euros for 2023 and 40 billion for 2024.
A-Zeta, an Italian firm for data investigation and full credit servicer for NPEs (secured & unsecured, individual, corporate and SMEs), said it acquired the legal unit of Officine CST, a company that Roberto Nicastro chairs and that belongs to Cerberus Capital Management (see here a previous post by BeBeez). After such an acquisitiom A-Zeta will launch its Info&Collection unit. Antonino Restino is the chairman, founder and owner of the buyer. Marco Picecchi is the deputy ceo and head of the credit management unit of A-Zeta. Officine CST belongs to Cerberus (57.11%), ceo Gianpiero Oddone (28%) and P Partners Investments (11.37% – a London-based firm that previously belonged to Riccardo Banchetti and now is of Massimiliano Veneziani).
