Ferroli, an Italian producer of climatization machines that belongs to Attestor Capital and Oxy Capital (96%), signed a debt-restructuring agreement with Banco BPM, Banca Monte dei Paschi di Siena, Deutsche Bank, Amco, illimity Bank, and Kommunalkredit Austria (see here a previous post by BeBeez). The banks will extend the maturities of the liabilities and provide further resources. Ferroli signed such a transaction after the sale of real estate assets to CFT – Consorzio Ferrara Trasporti. The Ferroli Family owns 4% of the business for which the funds could be mulling a sale. Riccardo Garrè the ceo of Ferroli previously said that the company aims to generate revenues of 650 million euros by 2024. Press reports said that the asset could attract the interest of trade buyers Immergas and Daikin.
Italian football team Sampdoria can join Italian first division in 2023 after paying 7 million euros to its employees, players and management staff for past due salaries and 6 million to foreign creditors (see here a previous post by BeBeez). Sampdoria also paid its debt with the Italian Inland Revenue and Pension Institute (INPS). Aser Capital Limited (Andrea Radrizzani) and Gestio Capital (Matteo Manfredi) acquired Sampdoria, which has losses of 30 million. Banca Sistema and Macquaire Group are reportedly working on issuing a convertible bond. Qatar Sports Investments acquired a minority of Sampdoria. Massimo Ferrero, the club’s former chairman, hired Lazard to sell the asset.
Milan-listed Azimut launched its second fund of rescue financing in partnership with Muzinich & Co. (fka Springrowth Capital) that will manage Azimut ELTIF – Private Debt Capital Solutions II (Azimut Eltif PD) (see here a previous post by BeBeez). The vehicle already attracted the commitment of an undisclosed anchor investor and will target companies in temporary distress generating sales of 50 million euros. Rumours say that Azimut Eltif PD attracted the commitment of Patrimonio Rilancio, a vehicle of the Italian Ministry of Economy and Finance that Cassa Depositi e Prestiti manages and that invests tickets of 100 million euros.
