Italian automotive components manufacturer Proma Group said it acquired troubled German competitor Recaro Automotive, a 523 million euros turnover company (see here a previous post by BeBeez). Schultze & Braun and Baker Tilly acted as insolvency administrators. Luca Pino is the ceo of Proma Group which has sales of 972.3 million, an ebitda of 100.2 million and net debts of 141.9 million.
Sources said to BeBeez that Ugo Malasomma and his family are close to selling a controlling stake in Banca Promos (fka Promos sim) to Paolo Scudieri, the owner of Italian automotive company Adler Group, on the ground of an enterprise value of 14 million euros (see here a previous post by BeBeez). Previous reports said that Scudieri acquired a minority of the target for creating a supply chain finance facility for Adler Group (see here a previous post by BeBeez). Banca Promos retained Grimaldi Alliance while Studio Gaeta advised Scudieri. Tiziana Carano is the ceo of Banca Promos.
Conbipel, the troubled Italian fashion firm that Grow Capital Global Holdings PTE and Invitalia acquired in 2021 from Oaktree Capital Management and for which Luca Jeantet is acting as insolvency administrator, is facing further turmoils (see here a previous post by BeBeez). The company is shutting down several shops and the labor unions required the start of a crisis negotiation with the Italian Government.
On 6 December, Friday, Italian football club Pescara Calcio started to repaying the investors of the 2.38 million euros bond it issued in 2018 for renovating its Delfino Pescara Training Center (see here a previous post by BeBeez). The club raised such resources through UK fintech Tifosy. Pescara’s chairman Daniele Sebastiani previously said that due to a contraction in revenues, the club delayed by one year the repayment of the bond with a coupon of 8% (5% in cash and 3% in credit for merchandising or tickets purchase).
PittaRosso, an Italian shoe retailer that belongs to Pillarstone, said it will start the relaunch plan that will also involve Scarpe&Scarpe an Italian competitor that the fund acquired (see here a previous post by BeBeez). The companies have aggregated sales of 480 million euros and Marcello Pace heads them as ceo.
