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Banca Progetto, a firm that belongs to Oaktree Capital Management and that Banca d’Italia in special administration on 18 March, Tuesday, signed a binding term sheet for a restructuring deal with the Italian Interbanking Fund for Deposits Protection (FITD), Banca Monte dei Paschi di Siena, Banco BPM, BPER Banca, Intesa Sanpaolo, and UniCredit that will carry on a 400 million euros worth relaunch of the business (see here a previous post by BeBeez). The parties aim to close the deal quickly. Banca d’Italia appointed Lodovico Mazzolin and Livia Casale as commissioners for Banca Progetto. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Oaktree and its portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Milan-listed Garofalo Health Care (GHC), a company of which Maria Laura Garofalo is the main shareholder, acquired troubled elderly care player Casa di Cura Città di Roma with its 8000 sqms real estate assets on the ground of an equity value of 15.2 million euros and an enterprise value in the region of 20.7 million (see here a previous post by BeBeez). PwC assisted the insolvency administrator Paolo Carbone. GHC is interested in further acquisitions and for this deal it retained Carbonetti e Associati, Riccardo Tiscini and Studio Legale Zoppini & Associati.
Marval, an Italian producer of automotive components of which Azzurra Capital has 75.82% since 2024, signed a binding agreement for acquiring VM Industrial & Marine, a troubled subsidiary of Stellantis Europe, and investing in the target 30 million euros for the next 5 years (see here a previous post by BeBeez). The closing requires the approval of the Italian Government’s Golden Power and the Antitrust authority. Andersen acted as deal advisro. Stellantis Europe and VM Motori retained Elexi. Marval received assistance from Pavesio e Associati with Negri-Clementi. VM has losses of 11.8 million, a 1.9 million turnover, net cash of 0.066 million and equity of 35 million. Nicola Marchiando and the management team have 24.18% of Marval. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Azzurra Capital and its portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
The Italian Ministry for Made in Italy (MIMIT) said that Star Tech Industries, a Milan-based newco, acquired from FairCap the Trieste plant for tmt components production of Adriatronics (fka Flextronics) ahead of investing 80 million euros in the business relaunch (see here a previous post by BeBeez). Startech Industries belongs to Mountain X and Segner Limited owner of the intellectual property of the Israeli New Photonics, a company with expertise in photonic semiconductor design. The buyers will produce third-generation optical transducers for data centres at the Trieste site and elaborated an investment plan focusing on the production of high-speed optical chips and transducers, crucial components for data centres, artificial intelligence, aerospace and defence. Adolfo Urso is MIMIT Ministry.
