Extraordinary commissioners Carmelo Cosentino, Vincenzo Nicastro and Gianpaolo Davide Rossetti extended to 30 January 2024 the deadline for tabling the binding bids for troubled Italian industrial company Piaggio Aerospace, a portfolio asset of Mubadala (see here a previous post by BeBeez). Milan-based Studio Notarile Annalisa Boschetti will collect the offers for the company and its subsidiaries Piaggio Aero Industries and Piaggio Aviation. The Italian Ministry for entreprises and Made in Italy. Piaggio Aerospace has an orders portfolio of 556 million euros.
QuattroR is close to acquiring 50% of Italian Massimo Zanetti Beverage Group (MZBG), the owner of coffee brand Segafredo, through the subscription of a 90 million euros capital increase (see here a previous post by BeBeez). The fund will have the majority of the voting rights and will invest in the firm ahead of listing it on New York or Singapore in up to four years from now. However, QuattroR will close the transaction only if the company reaches an agreement wit its lenders. Massimo Zanetti, the company’s chairman, reportedly said that QuattroR will appoint Pierluigi Tosato as ceo while he will keep his chairman role. MZBG has debts of 354 million euros and its main lenders are Unicredit, BNL and Intesa Sanpaolo. The company has sales of 844 million and an ebitda of 30 million.
IPV Investing, an Italian investor in NPEs that Carlo Palla, Stefano Inguscio (60%) and ViViBanca (40%) created in July 2023, acquired the junior tranche of the securitization of a 450 million euros face value portfolio of unsecured (see here a previous post by BeBeez). ViViBanca invested in the senior tranche. Allen & Overy and Gatti Pavesi Bianchi Ludovici assisted Zenith Service (master servicer) and IPV Investing.
