On 13 March, Wednesday, at 11 AM BeBeez and illimity Bank will discuss about Structured Finance for the growth of Italian mid-caps at Four Seasons’ Hotel Milano, Via del Gesù 4/6 Click here for booking a place. On 20 November 2024, BeBeez discussed about Structured finance instruments for relaunching mid-caps (se here the video of the event, BeBeez Magazine and a previous post by BeBeez).
Bedeschi, a company active in the field of materials handling and construction of brick plants, closed a receivership procedure that started in 2024 with the launch of a 19.8 million euros capital increase that attracted 9.8 million from Fondo Salvaguardia Imprese, a vehicle of MIMIT – Ministry of corporates and of Made in Italy that Invitalia (a firm that belongs to the Italian Ministry of Economy and Finance -MEF) manages (see here a previous post by BeBeez). The Bedeschi Family poured 10 million in the deal and kept a 50.51% stake of the company. Rino Tedeschi will remain in charge as ceo. Grimaldi Alliance and Banca Finint assisted Bedeschi. Molinari advised the financial creditors. Invitalia retained Gustavo Olivieri, Stefano Calabretta and Carlo Natale. Maurizio Nardon acted as receivership advisor. Sources said to BeBeez that in 2020, Milan-listed illimity Bank, a firm that Corrado Passera created, provided Bedeschi with a financing facility of 14 million. The parties renegotiated also the repayment of such a loan.
On 26 February, Wednesday, Paolo Fiorentino resigned as ceo of Banca Progetto, a portfolio company of Oaktree Capital Management, (see here a previous post by BeBeez). Such a news put in stand-by the sale of the asset to Centerbridge Partners. Banca progetto is facing money laundering allegation from Milan Court. In December 2024, Milan Court sentenced in first instance to four years’ imprisonment and a fine of 0.250 million euros for the mismanagement of Banca Carige. The Court also ordered a provisional of 28.59 million to Malacalza Investimenti, a former shareholder of the bank. Giuseppe Iannaccone is Fiorentino’s defence lawyer.
Replica sim, a financial services operator of which Milan-listed Poste Italiane has 45%, is going to manage Italy Distressed Fund SCA SICAV (IDFSCA), the vehicle that ADEPA Asset Management launched in 2024 for investing in securitization notes of NPLs and UTPs portfolio (see here a previous post by BeBeez). IDFSCA set a 35 million euros fundraising target. Replica is also going to pitch investors with a 100 million NPLs and UTPs fund that will manage in joint venture with US Three Line Capital and with Swedish Albatris, a company of which Paolo Petrignani, the former ceo of Quaestio Capital, is a partner. In 2024, this vehicle already invested in the securitization notes of mortgage NPLs and UTPs with a gross book value of 100 million that a special purpose vehicle issued. Italy Distressed Fund acquired the notes. BCMGlobal and AXIS (part of Hipoges) acted as special servicer, 130 Servicing as Master Servicer, Corporate Servicer and Calculation Agent. Chiomenti assisted the investors and Replica SIM for which Dario Negri works as ceo. Roberto Zambotti is the ceo of BCMGlobal Italia.
