Signa Prime Selection, part of insolvent Austrian Signa, signed an agreement for selling Italian assets Hotel Bauer, Waltherpark and development project Viva Virgolo to Swiss provider of hotel services Schoeller (see here a previous post by BeBeez). Norbert Abel, the insolvency administrator of Signa, said on 26 April, Friday, that creditors already agreed with the transaction, but the antitrust authority must give its approval. Previous press reports said that Hotel Bauer attracted the interest of King Street Capital Management. Previous reports said that Signa’s liabilities are in the region of 14 billion euros, according to JP Morgan. Schoeller previously provided a 200 million secured loan to Signa and could also acquire further of its assets.
Europa Factor, an investor in NPEs, issued an unsecured minibond of 6 million euros maturing in six years with a 6M Euribor – linked coupon (see here a previous post by BeBeez). BCC Banca Iccrea, BCC Roma and Banca di Credito P. Azzoaglio subscribed the Milan-listed issuance. Anteos, Listing Sponsor advised Europa Factor while Studio Chiomenti acted as deal counsel. Europa Factor, born in 2003, belongs to the Bottone Family and will invest such proceeds in its organic growth and the acquisition and management of NPEs portfolios. Pierluca Bottone is the ceo of Europa Factor. Enrico Sobacchi is the Head of Business Development of Anteos Capital Advisors.
Italian firm I-law Studio Legale hired 8 new layers that will focus on restructuring, NPLs and UTPs (see here a previous post by BeBeez). Lorenzo Marcello del Majno, who previously worked for Giovanardi Studio Legale, will head this practice. Senior partners Davide Sarina, Sarina, Stefano Menghini, Antonio Schiavone, and Giulia Galati head i-law.
