On 22 November, Friday, Milan-listed doValue completed the acquisition of Gardant, an Italian NPEs servicer, and of its gross 22 billion euros worth portfolios (see here a previous post by BeBeez). Manuela Franchi is the ceo of doValue which paid 230 million for the deal and included. Furthermore, the buyer will take a further 20% of Gardant out of a conversion in equity of 120 million worth bonds that make the enterprise value of 350 million. A pool of international banks provided doValue with financing facilities of 526 million. The Italian servicer will also invest 206 million for the early repayment of bonds maturing in 2025. Gardant’s managers and shareholders Fortress, Bain, Tiber (a vehicle of Elliott and Tages, the previous controlling owners) signed a binding agreement for subscribing new shares in the company for a total of 82.5 million, while the placement banks Mediobanca, UniCredit, Banca Akros – Gruppo Banco BPM, and Intesa Sanpaolo committed to subscribe shares worth 67.5 million.
Banca CF+, an Italian challenger bank that belongs to Elliott and Tages, renewed its partenrship with Italfinance Mediazione Creditizia Corporate (see here a previous post by BeBeez). Emilio Panzeri is the chairman of Italfinance whike Iacopo De Francisco is the ceo of Banca CF+ whose equity is worth 104 million euros.
