Troubled Miami’s financial firm 777 Partners is mulling for a sale of Genoa Cricket and Football Club (Genoa CFC), an Italian football team that acquired from Enrico Preziosi for one euro (see here a previous post by BeBeez). Press rumours said that Andreas Blazquez, the ceo of Genoa CFC, received informal expressions of interest from PIF and Cepsa, a Spanish oil company that belongs to Abu Dhabi’s Mubadala and Carlyle. In 2021, 777 Partners acquired Genoa CFC and reached a settlement agreement with the Italian Inland Revenue for paying 35% of the club’s 111 million euros tax debt in 10 years. International press reports say that 777 Partners owes more than 2 billion US Dollars to A-CAP, a firm that ceo Kenneth King heads.
Gpack, an Italian packaging company that belongs to Oxy Capital and Bramucci Family since 2019, completed its debt restructuring process as it received a 23 million euros financing facility from Milan-listed illimity Bank which also confirmed the 15 million factoring line (see here a previous post by BeBeez). The company will invest such resources in refinancing its current exposure with the lenders, suppliers and Italian Inland Revenue. Umberto Paolo Moretti is the head of Turnaround & Special Situations at illimity. Stefano Visalli is the chairman of Oxy Capital. Oxy Capital and GPack are two companies that BeBeez Private Data, the private capital database of BeBeez and FSI, monitors. Find out here how to subscribe for one month or one year
Alessandra Mirabelli, a bankruptcy magistrate of Bologna Court, rejected the receivership application that La Perla Global Management UK Limited tabled for La Perla Manufacturing, the troubled Italian luxury lingerie brand that the commissioners Francesco Paolo Bello, Francesca Pace and Gianluca Giorgi are managing (see here a previous post by BeBeez). The British company asked the Court to merge under one settlement discussion also the negotiations that involve La Perla Italia (see here the Creditors Portal) and of the Italian subsidiary La Perla Global Management UK Limited srl (see here the Creditors Portal) for easing the sale of the company to another investor. Mimit – The Italian Ministry for the Made in Italy manufacturing, scheduled a meeting for discussing the available options for the iconic Italian brand on 22 October, Tuesday. La Perla is a firm that BeBeez Private Data, the private capital database of BeBeez and FSI, monitors. Find out here how to subscribe for one month or one year
Sources said to BeBeez that Naxos Real Estate, the owner of Taormina-based trophy asset Villa Mon Repos (a boutique hotel worth in the region of 6 million Euros), signed for a definitive receivership ahead of liquidation (see here a previous post by BeBeez). CapitaLink Corporate Finance and DLA Piper assisted Naxos for which Manfredi Ferrara is acting as liquidation administrator (see here the advisor press release, the Creditors Portal, The Court Statement and Naxos’ Chamber of Commerce Data available for the subscribers to BeBeez News Premium and BeBeez Private Data). The firm’s debt amounts to 12 million (10 million financial debt). Emanuele Mattei, the insolvency administrator, will auction Villa Mon Repos for at least 5 million for raising the resources to pay at least 5% of Naxos unsecured debts, 8% of dues to the Italian Inland Revenue and 7% of further liabilities. The company failed to reach a settlement with the Italian Inland Revenue while it previously reached a no longer valid agreement with First Capital, an unlisted Italian investor, for selling Villa Mon Repos.
Efesto Credit Fund (ECF), an NPEs investor that belongs to Finint Investments and doNext (part of doValue), attracted 300 million Euros of UTPs from two undisclosed Italian banks (see here a previous post by BeBeez). ECF’s UTPs under management are now worth 2.4 billion and come from 15 Italian lenders and creditors. The banks that invested in ECF accepted to increase the vehicle investments from 1.1 billion to 1.6 billion. In 2020, ECF started its activity after having acquired UTPs with a gross value of 450 million from Unicredit, MPS, MPS Capital Services Banca per le Imprese, BPER, and BNL.
